Have Senate leaders from both parties finally put together a deal that can pass both the House and Obama? Markets rallied today (after opening lower) on news of a potential deal. The agreement would push the debt ceiling out until February 7th of next year and fund the government through January 15th. A condition of the deal would require a budget conference by December 15th between the House and the Senate. While temporary, this agreement would certain ease pressure from the volatile political situation and give both sides more time to come up with a longer-term deal. It would also allow the markets to focus on the heart of earnings season, which begins this week. In fact, the first two big tech names come out after close on Tuesday, with Yahoo (YHOO) and Intel (INTC) reporting.
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