- Texas man arrested for powder-letter hoax
- Islamic State opens ‘marriage bureau’ for single jihadists
- Drone almost blocks California firefighting planes
- Tornado rips off roofs, downs trees near Boston
- GOP: Environmental rules keeping agents from accessing border
- John Kerry: Millions displaced by religious fighting in 2013
- Federal appeals court rules against Virginia’s gay marriage ban
- White House says Russia ‘losing’ war in Ukraine
- Hamas turns to North Korea for weapons deal, Iran for money
- Syrian casualties surge as jihadis consolidate
Markets surge on optimism for a debt deal
Question of the Day
Wall Street seems to think Washington will strike a deal by Thursday to avoid default on its debts.
The markets opened up a collective 1 percent Wednesday amid expectations that lawmakers will come to an agreement the day before the government runs out of money to pay its bills.
The Dow opened up 177 points, or more than 1 percent, to 15,345.29 in the first hour of trading.
The S&P 500 was up 18 points, or more than 1 percent, to 1,716.32.
The Nasdaq was up 41 points, or more than 1 percent, to 3,835.08.
The Treasury Department says it will run out of money to pay the country's bills on Oct. 17, if the government does not agree to raise the debt limit. Economists say that would send the markets into chaos and could kick off another recession.
© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.
About the Author
Tim Devaney is a national reporter who covers business and international trade for The Washington Times. Previously, he worked for the Detroit News, Grand Rapids Press, Portland Press Herald and Bangor Daily News. Tim can be reached at firstname.lastname@example.org.
- Dysfunction, disarray at Homeland Security management cited in IG's report
- GM's Barra to be first woman to run top American carmaker
- Treasury sells last shares in 'Government Motors'
- U.S. businesses reach out quickly to partners in Iran
- General Motors ending Chevrolet sales in Europe to focus on Opel and Vauxhall
Latest Blog Entries
TWT Video Picks
By David Keene
Allowing states to innovate could reduce dependency on bureaucracy
- D.C. seeks to stay judge's order allowing gun owners to carry in public
- Illegal immigrants demand representation in White House meetings
- White House says Russia 'losing' war in Ukraine
- Hillary Clinton: Forget Obama, George W. Bush made her 'proud to be an American'
- HAYDEN: Intelligence, evidence and the case against Russia
- Border surge puts Obama legacy on immigration at stake
- Romney would win popular vote in rematch against Obama: CNN poll
- Iraqi Christians rally at White House: 'Obama, Obama, where are you?'
- Report: 40% of weapons sent to Afghanistan are unaccounted for
- KING: "Man-caused disaster" on the southern border
Obama's biggest White House 'fails'
Celebrities turned politicians
Athletes turned actors
20 gadgets that changed the world
Fighting in Iraq