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October 8, 2021

Receding debt fears spur rally

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Technology companies helped lift stocks on Wall Street broadly higher Thursday as investors welcomed the end of a standoff in Congress over extending the federal debt ceiling.

An agreement to temporarily extend the government's borrowing authority into December gives lawmakers more time to reach a permanent solution, averting for now an unprecedented federal default that experts say would have devastated the economy.


 
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