Optimism that a budget deal will be reached in Washington sent stocks modestly higher Thursday. A pair of economic reports also brightened the mood. The stock market took a brief turn lower when House Speaker John Boehner said little progress was being made in budget talks, then slowly recovered in the afternoon.
The Dow Jones industrial average rose 36.71 points, or 0.3 percent, to close at 13,021.82.
The Standard & Poor's 500 index rose 6.02 points, or 0.4 percent, to close at 1,415.95.
The Nasdaq composite rose 20.25 points, or 0.7 percent, to 3,012.03.
For the week:
The Dow is down 12.14, or 0.1 percent.
The S&P 500 is up 6.80, or 0.5 percent.
The Nasdaq is up 45.18, or 1.5 percent.
For the year:
The Dow is up 804.26, or 6.6 percent.
The S&P 500 is up 158.35, or 12.6 percent.
The Nasdaq is up 406.88, or 15.6 percent.