December 6, 2013
Wall Street ends up on hopes of debt solution in Washington
US stocks rose, extending gains from a major rally in the previous session, as investors were hopeful for a solution to end the partial US government shutdown and raise the US borrowing limit to avoid a possible default.
The S&P 500, which jumped more than 2 percent on Thursday, ended above 1,700 for the first time since late September.
European stocks edged higher keeping the previous day's rally alive, while investors waited to see if an agreement would finally be reached in Washington on the US debt ceiling.
The FTSEurofirst 300 index of top European shares was up 0.4 percent at 1,250.14 points, after surging 1.7 percent on Thursday.Meanwhile, Japan's Nikkei stock average climbed 1.5 percent posting its biggest one-day gain in three weeks, as signs of progress towards ending the US fiscal standoff bolstered investor sentiment and lifted exporters like Nikon Corp.
The benchmark Nikkei gained 210.03 points to 14,404.74, its highest close since Oct. 1. For the week, it added 2.7 percent. The broader Topix advanced 1.6 percent to 1,197.17.