Markets Are Up In Europe As A Debt Ceiling Deal Nears

Markets are mostly higher early in the European trading session.

Britain’s FTSE 100 is up 0.5%.

France’s CAC 40 is flat.

Germany’s DAX is up o.3%.

Spain’s IBEX is up 0.1%.

Overnight, markets went haywire after the New York Times reported that President Obama rejected the GOP’s latest offer to extend the debt ceiling.

However, it soon became apparent that no decision was made by either side.

The current proposal would delay the debt ceiling by around six-weeks, giving Washington more time to work out a longer-term deal.

U.S. futures are up, with Dow futures up 26 points and S&P 500 futures up 2 points.

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