Wall St ends up on hopes of debt solution in Washington
NEW YORK (REUTERS) - United States (US) stocks rose on Friday, extending gains from a major rally in the previous session, as investors were hopeful for a solution to end the partial US government shutdown and raise the US borrowing limit to avoid a possible default.
The S&P 500, which jumped more than 2 per cent on Thursday, ended above 1,700 for the first time since late September.
Buyers on Friday were motivated by the chance an agreement could come over the weekend. The Senate is expected to vote over the weekend on extending the federal debt limit through January 2015.
President Barack Obama and congressional Republican leaders worked to end a fiscal impasse that would allow a reopening of the federal government and an increase in the US debt limit.