NEW YORK Oct 16 U.S. stocks opened higher on
Wednesday on optimism that U.S. politicians would strike a
last-minute deal to prevent the country from defaulting on its
debt, an event that could roil markets and economies worldwide.
The Dow Jones industrial average rose 87.98 points,
or 0.58 percent, to 15,255.99, the S&P 500 gained 10.16
points, or 0.6 percent, to 1,708.22 and the Nasdaq Composite
added 23.882 points, or 0.63 percent, to 3,817.892.
Despite the upbeat sentiment in the equities market, yields
on U.S. Treasury securities due this month surged and the cost
of borrowing against Treasuries in the repurchase agreement
market rose as investors fretted about gridlock in Washington.