(WASHINGTON TIMES) Wall Street stocks soared Thursday morning on signs that House Republicans are preparing to pass a short-term increase in the national debt limit, preventing a possible default on U.S. Treasury securities.
The Dow Jones Industrial Average bolted up over 200 points in morning trading on media reports that the the GOP is discussing a six-week extension for the Treasury that ensures it can keep paying the nation’s debts and other bills for a while longer until Nov. 22.
“Wahoo! Thanks, GOP,” tweeted Henry Blodget, founder of Business Insider. “The Dow is up 200 now!” At a little after House Speaker John Boehner briefed reporters on the outlines of the new GOP offer at 11:30 a.m., the Dow was up over 220 points at 15,023. The Nasdaq Composite Index shot up nearly 2 percent.