By Kate Gibson, MarketWatch
NEW YORK (MarketWatch) — U.S. stocks gained on Monday with Wall Street cheering a last-minute deal to hike the federal borrowing limit.
Lawmakers were expected to vote later in the day on the agreement that includes $2.4 trillion in spending cuts over 10 years.
Bouncing back after its worst week in more than a year, the Dow Jones Industrial Average DJIA -0.09% added 57.40 points to 12,200.64.
The Standard & Poor’s 500 Index SPX -0.46% gained 4.91 points to 1,297.19.
The Nasdaq Composite Index COMP -0.29% rose 12.26 points to 2,769.78.
For every stock falling more than four rose on the New York Stock Exchange, where 123 million shares traded as of 9:50 a.m.
