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Stocks Soar as News of a Possible Deal in Washington to avoid Default

President Barack Obama will meet with top House Republicans at the White House to seek a path beyond a confrontation that has left the government shuttered for more than a week.

House GOP leaders appear to be ready to advance a short-term debt limit increase that would prevent a default on U.S. government debt next week. How long the debt limit will be extended has not been decided.

The Standard & Poor’s 500 index rose 19 points, or 1.2 percent, to 1,676. The Dow Jones industrial average jumped 178 points, or 1.2 percent, to 14,984 after the first hour of trading. The Nasdaq composite index added 53 points, or 1.5 percent, to 3,731.

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