S&P rises 1 percent; tax-rebate stimulus deal helps
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NEW YORK (Reuters) - The S&P 500 index on Thursday rose more than 1 percent as stocks extended gains, helped by optimism about a deal for tax rebates to stimulate the U.S. economy.U.S. House of Representatives Speaker Nancy Pelosi said on Thursday that 117 million U.S. families would receive a tax rebate check under a deal reached to provide stimulus to the U.S. economy.The Dow Jones industrial average <.DJI> was up 94.95 points, or 0.77 percent, at 12,365.12. The Standard & Poor's 500 Index <.SPX> was up 13.39 points, or 1.00 percent, at 1,351.99. The Nasdaq Composite Index <.IXIC> was up 38.14 points, or 1.65 percent, at 2,354.55.(Reporting by Caroline Valetkevitch; Editing by Jan Paschal) (c) Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
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