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US Senate Majority Leader Reid walks from a meeting with Senate Minority Leader McConnell on the debt ceiling crises on Capitol Hill in Washington

Lawmakers close to deal to avoid default

Lawmakers were close to a last-ditch $3 trillion deal on Sunday to raise the U.S. borrowing limit and assure jittery financial markets that the United States will avoid a potentially catastrophic default.

S&P: U.S. deficit cuts of $4 trillion a good downpayment

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A U.S. deficit reduction plan that promises $4 trillion in savings over time would be a good downpayment on getting the country's strained public finances under control, said John Chambers, chairman of S&P's sovereign ratings committee.

S&P Cuts Greece's Rating Deeper Into 'Junk' Terrority

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Standard & Poor's on Wednesday cut Greece's sovereign credit rating further into junk territory, lowering it to CC from CCC, saying the European Union's proposed debt restructuring would put the country into "selective default."
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Traders work on the floor of the New York Stock Exchange

US Stocks a Tremendous Buy, But Not Yet: Levy

David Levy, chairman of the Jerome Levy Forecasting Center, believes in the future of America. He thinks the economy will not only fully recover but also improve its position on the global stage from its current slump.
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ECB's Nowotny backs longer Greek aid repayment

A Greek debt restructuring would have dire consequences, ECB policymakers warned, with one suggesting the bank would be unlikely to help the euro zone recover from the shock by delaying interest rate hikes.
Greece's Prime Minister Papandreou

S&P Downgrades Greece to ‘B’

S&P downgraded Greece on Monday to ‘B’ on increased risks that Greece will have to restructure its sovereign debt. Furthermore, the ‘B’ rating has been put on negative watch.
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Global Markets Overview 04/20/2011

U.S. stocks rose Tuesday, clawing back some of the previous day's losses as positive earnings news helped buoy shares. The Dow Jones Industrial Average rose 65.16 points, or 0.53%, to finish near the day's highs at 12266.75. The Standard & Poor's 500-stock index added 7.48 points, or 0.57%, to 1312.62 while the Nasdaq Composite gained 9.59 points, or 0.35%, to 2744.97. The gains came one day after the Dow fell 140 points on credit-ratings firm Standard & Poor's decision to lower its ...

Deficit Deal Deadline is 2012 Election

Sen. Tom Coburn, R-OK on Monday - reacting to a 2 year warning on the nation's pristine credit rating - said Democrats and Republicans needed to reach a deal on cutting the nation's long-term deficits ahead of the November 2012 election, cautioning against waiting for the perfect political moment to tackle the problem.
Traders work on the floor of the New York Stock Exchange

US stocks edge up before Alcoa

U.S. stocks advanced in early trade on Monday as anticipation of solid first-quarter corporate earnings buoyed sentiment.

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