Stocks rally on news of deal on debt, US shutdown


A last-minute deal to keep the US from defaulting and reopen government offices sent stocks soaring. The S&P 500 set a record. All 10 main industries in the index gained at least 0.6%, with financial shares rising the most. A month of political gridlock had threatened to make the US a deadbeat and disrupt global markets. If the deal wraps up soon, investors can turn back to basics like profits and the economy. Corporations have begun to report third-quarter earnings, but the Street has been glued to the budget brinksmanship. Overall, S&P 500 profits are forecast to grow 3.1% from a year ago, slower than in the first two quarters.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
You're reading  1 of 5 free articles.
Get UNLIMITED access for only 99¢ per week Subscribe Now >
You're reading1 of 5 free articles.Keep scrolling to see more articles recomended for you Subscribe now
We hope you've enjoyed your 5 free articles.
Continue reading by subscribing to for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of