Markets Just Erased Their Losses For TheDay

Moments ago, House Republicans announced that they would vot for a three-month debt ceiling hike next week.

A longer-term extension in the debt ceiling would then be contingent on the Senate passing a budget.

"The first step to fixing this problem is to pass a budget that reduces spending," wrote Eric Cantor in a statement. "The House has done so, and will again. The Democratic Senate has not passed a budget in almost four years, which is unfair to hardworking taxpayers who expect more from their representatives. That ends this year."

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