Wall Street indexes end sharply higher on optimism about debt ceiling

The S&P 500 climbed 1.30% to end at 4,205.45 points, the Nasdaq gained 2.19% at 12,975.69 points, while Dow rose 1.00% to 33,093.34 points. — Reuters

NEW YORK: US stocks finished sharply higher on Friday as talks on raising the US debt ceiling progressed, while chip stocks surged for a second straight day on optimism about artificial intelligence.

After several rounds of talks, US President Joe Biden and top congressional Republican Kevin McCarthy appeared to be nearing a deal to increase the government's US$31.4 trillion debt limit for two years, while capping spending on most items, a US official told Reuters.

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