The Dow Jones industrial average soared more than 300 points Thursday after Republican leaders and President Obama finally seemed willing to end a 10-day budget standoff that has threatened to leave the United States unable to pay its bills.
The news drove the Dow to its biggest point rise this year and ended a three-week funk in stocks. It also injected some calm into the frazzled market for short-term government debt.
Republican leaders said Thursday they would vote to extend the government’s borrowing authority for six weeks. A spokesman for Obama said the president would be ‘‘likely’’ to sign a bill to increase the nation’s ability to borrow money so it can continue paying its bills. Full story for BostonGlobe.com subscribers.