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U.S. Stocks Rise on Hopefulness Regarding Debt-Ceiling Negotiations

U.S. stocks closed higher on Thursday, with the Nasdaq Composite reaching its highest level since August 25th. The S&P 500 rose 0.9%, the Dow Jones Industrial Average increased 0.3%, and the Nasdaq Composite advanced 1.5%. Optimism over a potential debt-ceiling deal persisted as House Speaker Kevin McCarthy expressed his confidence in the talks. The debt-ceiling debate has been a source of concern for investors, with Ray Dalio warning of a “disastrous financial collapse” if the issue is not resolved. With the markets continuing to reach new highs, investors will be watching closely to see if the current momentum can be sustained.