US Stocks Rise on Budget Deal

Dow ends day up 372
By Newser Editors and Wire Services
Posted Feb 12, 2019 3:04 PM CST
US Stocks Rise on Budget Deal
In this Feb. 5, 2019, file photo traders Joseph Lawler, left, and James Lamb work on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

US stocks are closing higher after US lawmakers reached a tentative deal to avoid another costly government shutdown, the AP reports. The deal could alleviate pressure on the market as the US and China begin talks on their trade dispute. Major companies continue to report fourth-quarter earnings. Molson Coors fell 9.4% 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%, to 2,744. The Dow Jones Industrial Average rose 372 points, or 1.5%, to 25,425. The Nasdaq added 106 points, or 1.5%, to 7,414. (Read more stock market stories.)

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