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GOP debt limit offer gives Wall Street its biggest gains of the year
GOP debt limit offer gives Wall Street its biggest gains of the year

The stock market staged its best rally of the year as lawmakers inched toward a deal that would temporarily stave off a government debt default. The Dow Jones industrial average surged 323.09 points after congressional Republicans proposed increasing the U.S. debt limit through Nov. 22. That would remove the immediate threat of a default that had loomed over the global economy. After the market closed, President Obama reportedly rejected the Republican plan because it would not end the partial shutdown of the federal government that began last week. Nevertheless, the overture from House Republicans cheered Wall Street. Investors saw it as the first step toward a resolution of the...

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