AP News

News Summary: Stocks log fifth straight advance


FIVE STRAIGHT: Stocks rose on optimism that Washington lawmakers are making progress on budget talks. The Dow Jones industrial average and the S&P 500 rose for a fifth straight day. The S&P briefly erased all of its post-election losses and ended just shy of the closing price it logged Nov. 6.

THE RED-EYE: Delta Air Line jumped after the company said it was paying $360 million to buy a 49 percent stake in Virgin Atlantic, giving it a bigger foothold in the lucrative market between the U.S. and London.

WAITING FOR THE FED: The Federal Reserve began a two-day policy meeting. Investors expect that it will end with an announcement of more bond-buying stimulus.


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