Stock market rallies as Congress gets close to agreement

The U.S. stock market soared today as investors welcomed the news that leaders in the U.S. Senate are close to a bipartisan agreement that will end the shutdown of the federal government and raise the national debt ceiling.

 

Legislative leaders also are predicting the House Speaker John Boehner (R-Ohio) will allow a version of the Senate bill to come to a vote in the House, against the wishes of the members of the more conservative Tea Party wing.

The Dow Jones Industrial Average climbed by more than 200 points with the news that the nation will not default on its debt.

The agreement also would clear the way for the Affordable Care Act to proceed, even though its primary web site, www.healthcare.gov, still is not working correctly.

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