Democratic And Republican Leaders Reach Stimulus Deal, Stocks Rise

Stocks are turning higher as Senate Majority Leader Harry Reid and other lawmakers hold a news conference announcing an agreement on an economic stimulus bill.

Reid has said the legislation should create 3.5 million jobs. Senate Republican Susan Collins of Maine put the cost at $789 billion. That is less than either of the bills that the House and Senate passed earlier.

The market's move higher comes a day after a steep selloff. Stocks have fluctuated throughout the session, and investors are hoping the stimulus plan will help revive spending.


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