Markets React Favorably to ‘Gang of Six’ Debt Talks, Obama Endorsement

Jul 19, 2011 5:01pm

ABC News' Dan Arnall (@abcmoneyguy) reports: The market reacted very favorably to the emergence of a compromise deficit reduction plan in the U.S. Senate and President Obama’s tacit endorsement of it. Read more about the ‘Gang of Six’ plan.  At around 1:15 – when the White House said the President would be making a statement at the daily briefing – the market began to rally. (see the Dow’s daily minute-by-minute chart below). The Dow finished up more than 1.6 percent.   

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