Stock Market Today: Stocks Close Lower Ahead of Key Debt Ceiling Vote

The major benchmarks spent most of Wednesday in the red as the House prepares to vote on the debt ceiling deal this evening.

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Stocks closed lower Wednesday as investors took some profits off the table ahead of a key debt ceiling deal vote. Disappointing jobs data and a massive dividend cut from Advance Auto Parts (AAP) didn't help sentiment, either. 

The debt ceiling agreement struck between House Speaker Kevin McCarthy and the White House over the weekend cleared a key vote last night in the House Rules Committee, and will undergo a floor vote in the full House of Representatives this evening. 

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Karee Venema
Senior Investing Editor, Kiplinger.com

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. 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.