Stocks advanced as traders focused on reports of progress in budget talks being held in Washington. The S&P 500 has erased almost all of its post-election losses. The Dow and S&P rose for the fifth straight day.
The Dow Jones industrial average rose 78.56, or 0.6 percent, to 13,248.44.
The S&P 500 gained 9.29, or 0.7 percent, to 1,427.84.
The Nasdaq composite index rose 35.34, or 1.2 percent, to 3,022.30
For the week:
The Dow is up 93.31, or 0.7 percent.
The S&P is up 9.77, or 0.7 percent.
The Nasdaq is up 44.26, or 1.5 percent
For the year:
The Dow is up 1,030.88 or 8.4 percent.
The S&P is up 170.24, or 13.5 percent.
The Nasdaq is up 417.15 or 16 percent.