Near-deal is good enough, for now, to lift markets
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Near-deal is good enough, for now, to lift markets
Phew, no more debt ceiling to worry about and the shutdown is over, now it’s time to watch Pandacam, eat government cheese and talk on Obamaphones.
Wait, what? It’s not over?
The market thinks it’s over, all but the dotted Is and crossed Ts.
It rallied on Thursday and Friday after House Republicans said they would pass a six-month extension to the debt ceiling.
For the week, the Dow Jones Industrial Average (DJI
JIA) rose 1.1% and the S&P 500 (SNC:SPX) gained 0.8%. The Nasdaq Composite (NASDAQ:COMP) snapped a 5-week winning run, falling 0.4%.
That Congress hasn’t so far passed a debt-ceiling extension hasn’t been a worry — yet. If the debt ceiling isn’t raised by Oct. 17, the Treasury’s estimation on when it will lose the ability to borrow, you’ll hear about it. http://www.marketwatch.com/story/near-deal-is...atest_news
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