New York (AFP) – U.S. stocks reversed losses and finished higher Monday amid encouraging signs from the White House and Congress that a deal was in reach on the budget and debt ceiling.

At the close, the Dow Jones Industrial Average added 64.15 points (0.42 percent) at 15,301.26.

The broader S&P 500 rose 6.95 (0.41 percent) to 1,710.15, and the Nasdaq Composite gained 23.40 (0.62 percent) at 3,815.27.