News Summary: Stocks surge as lawmakers near deal

AP News
Posted: Oct 16, 2013 4:59 PM

A DEAL FOR NOW: Stocks surged, pushing the Standard & Poor's 500 close to its record, after the Senate agreed to a deal that would end a 16 day-old government shutdown and avert the threat of a U.S. government default.

BACK TO BASICS: A deal would allow investors to turn their focus back to the fundamentals of stock investing, looking at the economy and company earnings.

POWER-TOOL OUTAGE: Stanley Black & Decker plunged $12.76, or 14.3 percent, to $76.75 after the tool company lowered its profit forecast for the year, citing slower growth in emerging markets and a hit from the U.S. government shutdown.