US stocks rise on deal to avoid shutdown

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NEW YORK (AP) U.S. stocks closed higher Tuesday after U.S. lawmakers reached a tentative deal to avoid another costly government shutdown.

The deal could alleviate pressure on the market as the U.S. and China begin talks on their trade dispute.

Major companies continue to report fourth-quarter earnings. Molson Coors fell 9.4 percent as weak volume dragged down profit and revenue.

Elsewhere, Coty soared after investment firm JAB Holdings offered to acquire a controlling stake in the owner of CoverGirl.

The S&P 500 gained 34 points, or 1.3 percent, to 2,744.

The Dow Jones Industrial Average rose 372 points, or 1.5 percent, to 25,425.

The Nasdaq added 106 points, or 1.5 percent, to 7,414.

Bond prices fell.

The yield on the 10-year Treasury rose to 2.68 percent.