Standard & Poor’s
Stocks are moving sharply higher on Wall Street after lawmakers reached a last-minute budget agreement to avert sweeping tax increases and cuts to government spending programs.
J.C. Penney Co. executives may be confident in the department-store chain’s everyday pricing strategy, but investors are panicking. The Plano-based company’s stock fell nearly 11 percent on Monday.
Stocks are plummeting at the close after anxiety overtook investors on the first trading day since Standard & Poor’s downgraded American debt.
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