Stocks are closing higher on Wall Street Thursday as investors welcomed progress in Congress standoff over extending the federal debt ceiling.

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A temporary extension will give lawmakers more time to reach a permanent resolution. The S&P 500, the Dow Jones Industrial Average and the Nasdaq rose.

On Thursday:

The S&P 500 rose 36.21 points, or 0.8%, to 4,399.76.

The Dow Jones Industrial Average rose 337.95 points, or 1%, to 34,754.94.

The Nasdaq rose 152.10 points, or 1%, to 14,654.02.

The Russell 2000 index of smaller companies rose 35.14 points, or 1.6%, to 2,250.09.

For the week:

The S&P 500 is up 42.72 points, or 1%.

The Dow is up 428.48 points, or less than 1.2%.

The Nasdaq is up 87.32 points, or 0.6%.

The Russell 2000 is up 8.46 points, or 0.4%.

For the year:

The S&P 500 is up 643.69 points, or 17.1%.

The Dow is up 4,148.46 points, or 13.6%.

The Nasdaq is up 1,765.73 points, or 13.7%.

The Russell 2000 is up 275.24 points, or 13.9%.

First Published:Oct 8, 2021 6:24 AM IST