Shutdown Loses Wiped Out on Wall Street Optimism

Markets surged on reports of a temporary deal to solve the debt limit.
3:00 | 10/11/13

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Transcript for Shutdown Loses Wiped Out on Wall Street Optimism
Those earn couraging signs from washington, sending wall street soaring on thursday. Stocks having their best day of the year when it looked like there could be a deal. This morning, traders are bracing themselves for another wild ride. And abc's rebecca jarvis is here with that. You have good news, rebecca? Reporter: We have good news, for a change. The good news after yesterday's gains is stocks have essentially wiped out the losses that were associated with the shutdown. Meaning your retirement savings are back on track. This isn't euphoria. The deal isn't done. And previously, we've seen this backfire. In the financial crisis, with the bank bailout, everyone thought it was a done deal. Congress voted no the first round. And stocks cratered then. The bottom line this morning for you and your retirement savings, stocks are up this year 15%. That's more than two-times the historical average. To put it in monetary terms. If you put $1,000 in the market, you would have earned $150 on that investment. So, a good one. We'll take it, rebecca. Yes, we will. Have a good weekend.

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