Wall Street ends sharply higher in hopes of fiscal deal

NEW YORK (Reuters) - U.S. stocks closed more than 1 percent higher on Wednesday after Senate leaders said they had a deal to reopen the federal government and raise the debt ceiling, avoiding the threat of a debt default.

The Dow Jones industrial average was up 201.39 points, or 1.33 percent, at 15,369.40. The Standard & Poor's 500 Index was up 23.24 points, or 1.37 percent, at 1,721.30. The Nasdaq Composite Index was up 45.42 points, or 1.20 percent, at 3,839.43.

(Reporting By Angela Moon; Editing by Nick Zieminski)