Stocks Surge on Debt Deal Hopes

U.S. stocks ended up sharply on Thursday, on news Washington was moving closer to a deal to avert a U.S. government default. The Dow Jones Industrial Average rose 323.09 points, or 2.18%, to 15,126.07.  The S&P 500 index added 35.16 points, or 2.18%, to 1,692.56. The Nasdaq Composite rose 82.97 points, or 2.26%, to 3,760.75.

House Republican leaders on Thursday offered President Barack Obama what they called a “good faith”
proposal to temporarily increase the nation’s debt ceiling and negotiate a budget deal, with the
government remaining shuttered for a tenth straight day.

The Federal Reserve is less likely to reduce its bond-buying program this month given the U.S.
government shutdown and resulting lack of economic data, as well as the ongoing debate over the
debt ceiling, a top central bank policymaker said on Thursday.

BlackBerry (BBRY) co-founders Michael Lazaridis and Douglas Fregin are considering making a joint
bid for the beleaguered mobile tech company, according to a Thursday regulatory filing with
Securities and Exchange Commission.