Signs Of Progress In Washington Sends Stocks Higher

NEW YORK (October 14, 2013)—Signs that lawmakers and the White House were moving closer to an agreement on avoiding default and reopening the federal government sent stocks higher at the close Monday.

Stocks were lower in early trading Monday after the negotiations between the White House and Congressional Republicans appeared to break down over the weekend, but the losses were erased in afternoon trading after Senate leaders reported 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 in the day.

The Standard & Poor's 500 rose seven points, or 0.4 percent, to end at 1,710.

The Nasdaq composite rose 23 points, or 0.6 percent, to close at 3,815.

Bond trading was closed for Columbus Day.

Trading volume was very light at 2.6 billion shares.

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