News of potential progress in debt-ceiling negotiations, positive economic news, and talk of central-bank stimulus in Japan spurred the Dow within a glimpse of its five-year high.
House Budget Committee Chairman Paul Ryan said Republicans are considering a short-term increase to the debt ceiling.
This Website Is For Financial Professionals Only
Economic reports showed housing starts rose more than expected in December and building permits also rose, but more in line with expectations.
Weekly jobless claims fell more than expected in the latest week. Business conditions for mid-Atlantic manufacturers unexpected contracted.
The Federal Reserve of Philadelphia’s regional gauge for manufacturing fell in January but expectations
for the next six months rose.
The Dow Jones Industrial Average rose 84.79 points, the S&P 500 added 8.31 points, and the Nasdaq advanced 18.46 points.