Stocks Close Higher As Talks Over Budget Impasse Drag On

NEW YORK (October 11, 2013)—Stocks closed higher Friday as talks continued in Washington about a solution to the budget impasse that partially shut down the government and threatens the U.S. with default.

The Dow Jones industrial average rose 111 points, or 0.7 percent, to close at 15,237 Friday.

The Dow surged 323 points Thursday as investors hoped that signs of a compromise from House Republicans would defuse the standoff.

The Standard & Poor's 500 index rose 10 points, or 0.6 percent, to end at 1,703.

The Nasdaq composite rose 31 points, 0.8 percent, at close at 3,791.

The price of gold closed at a three-month low as investors ditched safe-play assets in light of the progress toward reaching a debt deal.

Three stocks rose for every one that fell on the New York Stock Exchange.

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