A sign for Wall Street is seen just outside the New York Stock Exchange.(Photo: Timothy A. Clary, AFP/Getty Images)
NEW YORK (AP) - Investors who stuck with the rocky stock market throughout the political gridlock in Washington are happy today.
Wall Street finally got the good news it was waiting for. A last-minute congressional agreement to keep the U.S. from defaulting on its debt and reopen the government sent the stock market soaring yesterday, pushing the Standard & Poor's 500 index close to a record high.
It happened just hours before a deadline that Treasury Secretary Jacob Lew had set to raise the $16.7 trillion debt limit.
On Wednesday, the Dow Jones climbed 206 points, or 1.4 percent, to close at 15,373. The S&P 500 gained 23, or 1.4 percent, to 1,721.. That's only four points below its record close of 1,725 on Sept. 18.
The Nasdaq composite climbed 45 points, or 1.2 percent, to 3,839.