Wall Street rises on budget talk optimism

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November 20, 2012 2:07 AM EST

Stock opened higher on Monday, with the S&P 500 rising 1 percent, as signs of progress in talks to resolve the fiscal crunch heartened investors at the start of a holiday-shortened week.

The Dow Jones industrial average <.DJI> gained 100.14 points, or 0.80 percent, to 12,688.45. The Standard & Poor's 500 Index <.SPX> rose 13.76 points, or 1.01 percent, to 1,373.64. The Nasdaq Composite Index <.IXIC> climbed 33.70 points, or 1.18 percent, to 2,886.83.

(Reporting by Leah Schnurr; Editing by Kenneth Barry)

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Copyright 2012 Thomson Reuters. All rights reserved.

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