On Friday, US stocks rose which extended gains from a major rally in the previous session. This was after investors had been hopeful for a possible immediate solution to end the current US government deadlock. Investors were also hopeful that the US borrowing limit would reach an agreement to avoid a possible debt default.
On Thursday, the S&P 500 jumped more than 2%, ending more than 1700 for the first time since late September, said a Reuters report. Last Friday, buyers were motivated by the chance of an agreement over the US budget that could come over the weekend. The Senate had been expected to vote over the weekend regarding the increase in the nation's debt limit through January 2015.
The US partial shutdown is now on its eleventh day, said a Reuters report. The shutdown has less than a week remaining before reaching the October 17 deadline that would cause a first ever US debt default if budget issues would not be resolved.
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