U.S. stocks shook off their post-election slump Monday and recorded big gains. Investors appeared more optimistic about a deal to avoid a federal budget crisis and were encouraged by a pair of corporate earnings reports.
The Dow Jones industrial average climbed as much as 179 points. At 12:30 p.m. EDT, it was up 173 points, or 1.4 percent, at 12,761. The Dow had slid 5 percent since Election Day.