Stock Market Today: Debt Ceiling News Drives Major Stock Rally

The major indexes soared after President Biden and House Speaker McCarthy both struck an optimistic tone on recent debt limit talks.

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(Image credit: Getty Images)

It was a slow start to the trading session Thursday as Wall Street mulled over another round of retail earnings. However, reports that debt ceiling negotiations are progressing lit a fire under stocks, with all major indexes rallying hard into the close. 

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Karee Venema
Senior Investing Editor,

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.