U.S. stocks rally into close; Dow's up 107 points after being down triple digits

NEW YORK (MarketWatch)
U.S. stocks rose sharply Wednesday, lifting the S&P 500 back into the green for the week, after comments by President Barack Obama and House Speaker John Boehner bolstered thinking a budget deal would be reached
"The president set a timetable, that he'd like to get this done by Christmas, as opposed to drawing it out to Dec. 31, and I do think the markets are encouraged that there is an aggressive, let's get it done, attitude," said Jim Russell, chief equity strategist and regional investment director, wealth management, at U.S. Bank
Erasing a 112-point drop, the Dow Jones Industrial Average added 106.98 points, or 0.8%, to 12,985.11
The S&P 500 index rose 10.99 points, or 0.8%, to 1,409.93
The Nasdaq Composite climbed 23.99 points, or 0.8%, to 2,991.78.