US STOCKS-Wall Street surges as worries over debt ceiling subside
U.S. Senate Majority Leader Chuck Schumer announced Senate leaders have agreed to raise the Treasury Department's borrowing authority until early December, with a possible vote for a debt limit increase of $480 billion coming as soon as Saturday. Mega-cap stocks were back in action - Microsoft Corp , Apple Inc, Amazon.com Inc and Alphabet Inc rose between 1% and 1.8%, providing the biggest boost to the S&P 500 and the Nasdaq. At 11:51 a.m. ET, the Dow Jones Industrial Average was up 512.92 points, or 1.49%, at 34,929.91, the S&P 500 was up 61.61 points, or 1.41%, at 4,425.16, and the Nasdaq Composite was up 243.65 points, or 1.68%, at 14,745.56.
Published:10/7/2021 11:42:13 AM