Dow Jumps 200 on Deal Reports

Market breathes a sigh of relief
By Kevin Spak,  Newser Staff
Posted Oct 16, 2013 10:40 AM CDT
Dow Jumps 200 on Deal Reports
A specialist watches a television monitor on the floor of the New York Stock Exchange showing a Washington news conference by House Speaker John Boehner, Tuesday, Oct. 15, 2013.   (AP Photo/Richard Drew)

Investors sprang into action today on reports that a Senate deal to reopen the government and raise the debt limit "is in hand," sending stocks soaring. At one point the Dow was up as much as 200 points in midday trading, and as of 11:39am was still up 193, at 15,361. The Nasdaq and S&P were up 42 and 21, respectively. "Investors are relieved that it looks like we're not going to go over the cliff," one research analyst tells Bloomberg. "It takes the worst case scenario off the table." (Read more New York Stock Exchange stories.)

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