Stocks close higher

Stocks closed higher on Wall Street Thursday as investors welcomed progress in Congress’ standoff over extending the federal debt ceiling. A temporary extension will give lawmakers more time to reach a permanent solution. The S&P 500 rose 0.8 percent and the Nasdaq Composite gained 1.1 percent. Pfizer gained 1.7 percent after asking the U.S. government to allow use of its COVID-19 vaccine in children ages 5 to 11. The S&P 500 rose 36.21 points, or 0.8 percent, to 4,399.76. The Dow Jones Industrial Average rose 337.95 gained, or 1 percent, to 34,754.94. The Nasdaq added 152.10 points, or 1 percent, to 14,654.02. The Russell 2000 index of smaller companies advanced 35.14 points, or 1.6 percent, to 2,250.09.