Dow Soars, Nasdaq Posts Best Close Since 2000
Midnight Trader | Oct 16, 2013 04:26PM ET
Wall Street breathed a collective sigh of relief, Wednesday, when Senate leaders announced a deal that would end the government shutdown and temporarily raise the debt ceiling.
Well ahead of the deal's announcement, The Dow Industrial rallied by more than 200 points while the Nasdaq touched an all-time high, both closing near their highs of the day. The eleventh-hour deal overshadowed more troubling news on consumer confidence, which has worsened thanks to the government shutdown and political wrangling that brought the country to a nearly unprecedented government debt default.
The Fed's Beige Book indicated still modest economic expansion in most regions, but as indicated in disappointing earnings from Stanley Black and Decker (Midnight Trader .
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