U.S. Markets Gain In Hopes Of Possible Budget Deal - Northern Michigan's News Leader

U.S. Markets Gain In Hopes Of Possible Budget Deal

Posted: Updated:

UPDATE: 3:30 PM 

NEW YORK (AP) -- Dow Jones industrial average increases 300 points as investors anticipate a deal to avoid default. 

------------------------------------------------------

11:00 AM

NEW YORK (AP) -- The stock market is on track for its biggest gain in three months on hopeful signs that a budget impasse in Washington may break soon.

The Dow Jones industrial average jumped 202 points to 15,003 in the first hour of trading Thursday.

The Standard & Poor's 500 index rose 23 points to 1,680, and the Nasdaq composite rose 61 points to 3,739.

President Barack Obama will meet with House Republicans at the White House to break a logjam that has left the government partially shutdown for almost two weeks.

House Republicans appear ready to advance a short-term increase in the country's borrowing authority that would prevent a default on U.S. government debt next week.

  • Most Popular StoriesMost Popular StoriesMore>>

  • UPDATE: Knysz Declared Brain Dead Following Suicide Attempt

    UPDATE: Knysz Declared Brain Dead Following Suicide Attempt

    Wednesday, April 16 2014 12:05 PM EDT2014-04-16 16:05:41 GMT
    Breaking news tonight, 9&10 News learned convicted murderer Eric Knysz tried to hang himself in prison. We have confirmed Knysz is now on life support. Knysz was just sentenced last week to life in prison
    UPDATE: 9 & 10 News has just confirmed that convicted murderer Eric Knysz has been declared brain dead.

    Knysz was on life support after the suicide attempt that took place Monday afternoon.
  • Assessing Spring Storm Damage

    Assessing Spring Storm Damage

    Monday, April 14 2014 2:13 PM EDT2014-04-14 18:13:04 GMT
    Credit: Katy MarshlafiffCredit: Katy Marshlafiff
    Most of the heavy rain has ended, now people across Northern Michigan are beginning to assess the damage and start cleanup.   Mecosta and Osceola counties were hit the hardest.   You can see the weekend
    Most of the heavy rain has ended, now people across Northern Michigan are beginning to assess the damage and start cleanup.   Mecosta and Osceola counties were hit the hardest.   You can see the weekend
  • Fire In Downtown Mackinac Island

    Fire In Downtown Mackinac Island

    Wednesday, April 16 2014 2:27 PM EDT2014-04-16 18:27:16 GMT
    The St. Ignace fire chief says there is a fire in the downtown district on Mackinac Island. Details are very limited at this time. Five men from the St. Ignace Fire Department are flying over to help.  Alyssa
    The St. Ignace fire chief says there is a fire in the downtown district on Mackinac Island. Details are very limited at this time. Five men from the St. Ignace Fire Department are flying over to help.  Alyssa