Stocks Hold to Gains as Senate Deal Reached

Despite a mild 'sell-the-news' reaction, stocks are holding onto strong gains after Senate Majority Leader Harry Reid, as expected, announced that they have a deal to end the government shutdown and raise the debt ceiling. The deal was reached in a compromise with Senate Republican leader Mitch McConnell .

The deal will fund the government through Jan. 15 and raise the debt ceiling through Feb. 7.

Pleasing to Republicans will be an income verification measure for Obamacare.

The bill is also expected to included a "extraordinary measures" work around for the U.S. Treasury in case the debt ceiling is not raised by Feb. 7.

Senator Ted Cruz says he won't delay a Senate vote on the fiscal deal.

While the bill is expected to pass the Senate, issues could still arise in the House. However, McConnell's support for the bill could bring enough Republicans on board to get the bill to President Obama.

The Dow is up 178, the Nasdaq is up 42 and the S&P 500 is up 20.

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