U.S. stocks rose on Thursday after upbeat job market data and following five days of declines, with investors still focused on the possible economic impact of an ongoing impasse in budget and debt negotiations in Washington.
The U.S. Congress, struggling to avert a government shutdown next week, was warned by the Obama administration on Wednesday that the Treasury was quickly running out of funds to pay government bills and could soon face a damaging debt default.
Investor angst was heightened as lawmakers grappled with another potential crisis – Federal agency shutdowns that could begin with the new fiscal year next Tuesday, unless Congress comes up with emergency funds.
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