Funding for road projects and the gasoline tax expire on Sept. 30, leaving Congress not much time to act when lawmakers return from vacation. Obama says 1 million jobs are at stake.
The Dow rose 53.58 points to close at 11,613.53 as a wild month for the financial markets ends quietly
Standard & Poor's index recovers all its losses since stocks hit their 2011 low. Dow stocks within reach of break-even for the year.
The Dow ended 144 points higher, with gold taking a dive and government bond yields rising. The S&P 500 gained about 15 points, and the Nasdaq closed about 21 points up.
Stocks rise sharply after last week's 4 percent loss on the Dow. But traders caution that the bounce in stocks may not last.
The Dow Jones Industrial Average shed 419.63 points to close at 10,990.58. News from Europe and unfavorable economic reports in the US appear to be factors.
AAA credit rating for the US remains in place for Fitch Ratings, even though Standard & Poor's downgraded the US from its AAA credit rating