NEW YORK (AP) -- Wall Street surged as talks on the government shutdown and the debt limit took some tentative steps yesterday. More talks are scheduled today. With some additional advances in the closing minutes, the Dow finished the day with a gain of 323 points, or 2.2 percent. The S&P 500 rose 36 points, and the Nasdaq composite gained 83 points. Based on futures trading, Wall Street appears headed for modest gains at this morning's opening.
BANGKOK (AP) -- International stock markets were boosted today by a glimmer of progress in resolving the U.S. budget row and debt limit crisis that have threatened to leave the U.S. unable to pay its bills. Benchmark crude oil fell below $102 a barrel. The dollar gained against the yen and fell against the euro.
WASHINGTON (AP) -- The two sides are talking again, which has raised at least some hope that there could be a resolution to the partial government shutdown and an increase in the debt ceiling. President Barack Obama meets with Senate Republicans today after doing the same yesterday with House GOP members. Representatives for the two sides talked late into the night.
ATLANTA (AP) -- SunTrust Banks Inc. says it agreed to cash payments and consumer relief totaling more than $1 billion to settle claims over its handling of government-backed mortgages. The Atlanta-based banking company said that it agreed to provide $500 million in consumer relief and pay $468 million in cash to settle claims by the Justice Department and the Housing and Urban Development Department. The claims covered FHA-insured mortgages that the bank originated between 2006 and early 2012 and claims under a national settlement program.
LONDON (AP) -- The privatization of the Royal Mail seems to be popular in its first day of trading on the British stock market. The soaring shares likely bolsters criticism that the company, which traces its history back to King Henry VIII, was undervalued by the British government. Big financial institutions, such as pension funds and sovereign wealth funds, are trading the shares today in what is known as conditional trading.
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