By and  on October 16, 2013

Word of a Senate budget deal propelled U.S. stocks up sharply Wednesday as investors latched on to hopes for an end to the government shutdown and the aversion of a debt-ceiling breach.

Stocks got off to a strong start in morning trading, as word of a deal between Senate Democrats and Republicans first circulated in the morning, and held on to gains throughout the day. The S&P 500 Retailing Industry Group advanced 1.2 percent, or 10.37 points, to 849.98, nearly keep pace with the 1.4 percent gains registered by both the Dow Jones IndustrialAverage and S&P 500, which closed at 15,373.83 and 1,721.54, respectively.

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