Oct. 16--Wall Street seems to think Washington will strike a deal by Thursday to avoid default on its debts.
The markets opened up a collective 1 percent Wednesday amid expectations that lawmakers will come to an agreement the day before the government runs out of money to pay its bills.
The Dow opened up 177 points, or more than 1 percent, to 15,345.29 in the first hour of trading.
The S&P 500 was up 18 points, or more than 1 percent, to 1,716.32.
The Nasdaq was up 41 points, or more than 1 percent, to 3,835.08.
The Treasury Department says it will run out of money to pay the country's bills on Oct. 17, if the government does not agree to raise the debt limit. Economists say that would send the markets into chaos and could kick off another recession.
(c)2013 The Washington Times (Washington, DC)
Visit The Washington Times (Washington, DC) at www.washingtontimes.com
Distributed by MCT Information Services
Original headline: BRIEF: Markets surge on optimism for a debt deal
Most Popular Stories
- Dmytro Firtash, Ukrainian Billionaire, Arrested in Vienna
- Obama, Ukraine Discuss Russian Incursion in Crimea
- Herbalife Puts Off Meeting for Icahn Talks
- Navarro Celebrates 2 Years of Vida Mia
- Calumet Photo Files for Bankruptcy
- Ukraine Loan Delayed While Congress Goes on Vacation
- Federal Gov't Deficit Continues to Decline
- Ukraine Moves Closer to Joining E.U.
- Venezuela Death Toll Reaches 28
- Russia Holds Large Military Drills in South