published Thursday, October 10th, 2013

Dow Jones, other markets up as Washington moves to end impasse

Trader Kevin Lodewick, right, works on the floor of the New York Stock Exchange.
Trader Kevin Lodewick, right, works on the floor of the New York Stock Exchange.
Photo by Associated Press /Chattanooga Times Free Press.

NEW YORK — The stock market is closing sharply higher as Washington moves closer to avoiding a default on the U.S. government's debt.

The market had its best day since January 2.

The Standard & Poor's 500 index rose 36 points to close at 1,692 Thursday. The Dow Jones industrial average jumped 323 points to end at 15,126. The Nasdaq composite rose 82 points to 3,760.

House Republicans said they would advance legislation to temporarily extend the government's borrowing authority so it can continue to pay its bills on time. The prospect of an unprecedented default on the U.S. government's debt and a partial shutdown of the government have been dragging the stock market lower for three weeks.

videos »         

photos »         

e-edition »

advertisement
advertisement

Find a Business

400 East 11th St., Chattanooga, TN 37403
General Information (423) 756-6900
Copyright, Permissions, Terms & Conditions, Privacy Policy, Ethics policy - Copyright ©2014, Chattanooga Publishing Company, Inc. All rights reserved.
This document may not be reprinted without the express written permission of Chattanooga Publishing Company, Inc.