Major U.S. stock indexes ripped higher Thursday after Senate Majority Leader Chuck Schumer said lawmakers had reached a deal on a short-term debt-limit extension, which would put off a possible government default for several months.
The stock market turned decidedly upward, with everything from shares of technology companies to energy firms to manufacturers and miners rising. Stocks hit their session highs following Sen. Schumer’s remarks from the Senate floor and continued to trade near those levels in the afternoon. While the Senate must still vote on the deal, investors appeared ready to remove the debt ceiling as an obstacle to further gains.
Stocks End Higher After Debt-Limit Extension Deal – The Wall Street Journal