Partly Cloudy
73°FPartly CloudyFull Forecast

U.S. stocks turn higher on hopes for debt talks

Published: Monday, Oct. 14, 2013 3:22 p.m. CDT
Caption
(AP Photo/Richard Drew)
In this Wednesday, Oct. 9, 2013 photo, trader Frank O'Connell, right, works, on the floor of the New York Stock Exchange. U.S. futures are down sharply, Monday, Oct. 14, 2013, as the nation heads into the third week of a partial government shutdown.

NEW YORK (AP) — Stocks are ending higher following signs that Washington was moving closer to an agreement to avoid a debt default and re-open the federal government.

The stock market started lower Monday after negotiations between the White House and Congressional Republicans appeared to break down over the weekend.

Stocks erased those losses in early afternoon trading after Senate leaders said they were making progress toward a deal.

The Dow Jones industrial average rose 64 points, or 0.4 percent, to close at 15,301. The index was down as much as 100 points earlier.

The Standard & Poor's 500 rose seven points, or 0.4 percent, to 1,710. The Nasdaq composite rose 23 points, or 0.6 percent, to 3,815.

Bond trading was closed for Columbus Day.

Trading volume was very light at 2.6 billion shares.

Get breaking and town-specific news sent to your phone. Sign up for text alerts from the Northwest Herald.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Reader Poll

How many days will you attend the McHenry County Fair?
Five
Four
Three
One or two
None