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U.S. stocks closed higher for a second straight day on Thursday on mounting optimism that a U.S. debt ceiling deal could be reached within days, with discount retailer Walmart Inc providing additional support after an upbeat annual sales forecast.
The benchmark S&P 500 index rebounded from early declines on news that top U.S. congressional Republican Kevin McCarthy said a deal to raise or suspend the debt ceiling could potentially be reached in time to hold a House vote next week.
On Wednesday, President Joe Biden and McCarthy reiterated their aim to strike a deal soon to raise the $31.4 trillion federal debt ceiling and agreed to talk as soon as Sunday.
“Today and yesterday it’s really been about some easing pressure from the debt ceiling, McCarthy again came out expressing some optimism a deal could be formed by the end of the week, House could vote on a bill the following week,” said Anthony Saglimbene, chief market strategist at Ameriprise Financial in Troy, Michigan.
The Dow Jones Industrial Average rose 115.14 points, or 0.34 percent, to 33,535.91; the S&P 500 gained 39.28 points, or 0.94 percent, at 4,198.05; and the Nasdaq Composite added 188.
