Belfast Telegraph

Stocks rise as debt talks continue

The stock market has closed higher as talks continue in Washington over ending a budget impasse that has partially shut down the government and threatened the US with default.

The Dow Jones industrial average rose 111 points, or 0.7%, to close at 15,237. The Dow surged 323 points yesterday as investors hoped that signs of a compromise from House Republicans would defuse the stand-off.

The Standard & Poor's 500 index rose 10 points, or 0.6%, to 1,703. The Nasdaq composite rose 31 points, 0.8%, at 3,791.

The price of gold closed at a three-month low as investors ditched safe-play assets in light of the progress toward reaching a debt deal.

Three stocks rose for every one that fell on the New York Stock Exchange.