Stocks Rise on Hopes for a Budget Deal

U.S. stocks climbed on Monday, as lawmakers appeared to be inching towards an agreement to raise the debt ceiling. The Dow industrials rose 64.15 points, or 0.42%, to 15,301.26. The S&P 500 added 6.94 points, or 0.41%, to 1,710.14. The Nasdaq Composite climbed 23.40 points, or 0.62%, to 3,815.27.

Senate leaders said Monday afternoon they were optimistic about a deal to reopen the government and raise the U.S. debt ceiling, as a White House meeting was put on hold to allow them more time to negotiate..

The United Auto Workers-affiliated healthcare trust valued its ownership stake in Chrysler Group LLC at $3.6 billion by the end of 2012, up from $2.7 billion the previous year, a recent filing with the U.S. Department of Labor.

British authorities investigating potential manipulation in the currency markets are looking at the role of a senior trader at JPMorgan Chase & Co (JPM) while he worked for another firm, the Wall Street Journal reported on its website on Monday.

A British charity and a labour union accused Europe’s largest pharmacy chain, Alliance Boots, of avoiding over 1.1 billion pounds ($1.76 billion) in UK tax since 2008 and called on the government to change laws which allow such tax planning.