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Stocks Want You to Know They Are Deeply Excited About the New Boehner Proposal

Specialists Peter Kennedy and Michael Gagliano, foreground left and right, work at their posts on the floor of the New York Stock Exchange, Thursday, Oct. 10, 2013. Stocks are rising sharply in early trading on Wall Street following hopeful signs that a budget impasse in Washington may break soon. (Credit: AP)

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.


Follow Becket Adams (@BecketAdams) on Twitter

Featured image Getty Images. This post has been updated.


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