NEW YORK (AP) -- The prospect of a breakthrough on the impasse in Washington was enough of an antacid for jittery investors worried about the possibility the government would default on its debt. The market had its best day since January 2. The Dow jumped 323 points to end at 15, 126. The S&P rose 36 points to close at 1,692.The Nasdaq rose 82 points to 3,760. Three weeks of gridlock have been a drag on the market.
WASHINGTON (AP) -- House Republican leaders have been meeting with President Barack Obama. Earlier, House Speaker John Boehner said Republicans would agree to a six-week extension of the government's borrowing authority, if Obama first agrees to new negotiations on spending cuts. But Senate Majority Leader Harry Reid, after his own meeting with Obama, said Democrats won't negotiate with Republicans as long as the partial government shutdown continues.
NEW YORK (AP) -- The head of the European Central Bank says the rest of the world doesn't believe the U.S. government will default on its debt. But, in a speech at the Economic Club of New York, ECB chief Mario Draghi (DRAHG'-ee) says two situations raise concerns. First, an agreement comes but it's late and there's an "accident" along the way. Second, a worst-case scenario develops in which a standoff lasts for weeks or months. Draghi says that would cause severe damage to the U.S. economy and the world.
TORONTO (AP) -- BlackBerry has been struggling to survive in the smartphone market, but the list of suitors interested in buying it has grown. In a filing with the Securities and Exchange Commission, co-founder Mike Lazaridis (laz-ah-REE'-dees) says he's looking at a potential takeover bid. Last month, Fairfax Financial Holdings signed a letter of intent that "contemplates" buying the company for $9 a share, or $4.7 billion. The private equity firm Cerberus also has expressed interest.
OAKLAND, Calif. (AP) -- San Francisco Bay Area Rapid Transit and its unions are headed back to the bargaining table for an 11th hour meeting. A 60-day, state-mandated cooling-off period that prohibited a strike expires at midnight. The parties have reached agreement on pension contributions but are still at odds over compensation, health care and safety.
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