New York stock exchanges wrapped up the week in a rally with investors keeping a close eye on the debt ceiling deal, as negotiators look to lift the borrowing limit and enact a two-year government spending freeze.
International Monetary Fund released its projections on the United States economic growth, expecting its GDP to expand by 1.7% this year. In corporate news, Ford and Tesla reached an agreement on electric vehicle charging stations.
The Dow Jones Industrial Average surged 329 points or 1%, as Intel Corporation gained 5.84%. The Nasdaq 100 skyrocketed 2.58%, with Marvell Technology Inc. rallied 32.42%. The S&P 500 jumped 1.31%, as Broadcom Inc. soared 11.52%.
The euro was flat against the dollar, to sell at $1.07293 at 3:55 pm ET.
