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Stocks soar 1% on hopes for budget deal in DC; all S&P sectors rally
Stocks spiked near session highs Wednesday, erasing the previous session's sharp selloff, as investors remained encouraged that lawmakers would strike a last-minute deal to prevent the country from defaulting on its debt. Major averages took a leg higher after Reuters reported that U.S. Senate negotiators are "very close" to announcing a deal on extending the debt ceiling. The Senate is likely to move "quickly" to pass a fiscal debt deal currently being negotiated, according to a Senate aide. Senate leaders are in talks with House leaders to find a way to win fast passage of the deal in both chambers. The New ... (full story)
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