House Speaker John Boehner (R-Ohio) announced Thursday a no-strings attached plan to extend the nation’s borrowing limit by six weeks.
And U.S. stocks are absolutely loving it. In fact, the stock market is close to having one of its best day since January.
The Dow Jones industrial average rose by 228 points, or 1.7 percent, to 15,032 as of 2 p.m. Eastern:
The S&P 500 index climbed 27 points, or 1.6 percent, to 1,683:
And the Nasdaq composite index increased by 71 points, or 1.9 percent, to 3,749:
Markets are hopeful the Boehner proposal will move the White House and the Treasury Department one step closer to avoiding a default. Failure to avoid a debt-ceiling breach could be disastrous.
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Featured image Getty Images. This post has been updated.
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