Stock markets rebounded around the world early Monday thanks partly to apparent progress made in talks between President Obama and congressional leaders on avoiding the fiscal cliff. There was a global sell-off last week as investors became increasingly worried that gridlock in Washington would prevent Congress from reaching a deficit reduction deal that would avert $600 billion in spending cuts and tax hikes scheduled to hit on Jan. 1, potentially sending the U.S. economy back into recession. But the mood shifted after congressional leaders left a Friday meeting at the White House expressing confidence they could reach an agreement.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- The U.S. Marines are developing laser weapons. Here's why.
- Why the Supreme Court is allowing Texas to hold an unconstitutional election
- 43 TV shows to watch in 2014
- 6 things the happiest families all have in common
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- How 1,000-year lifespans could remake the economy
- 3 horrific inaccuracies in Homeland's depiction of Islamabad
- Ban PowerPoint!
- Gamergate has backfired spectacularly on its nincompoop perpetrators
- It's time to kill school picture day
Subscribe to the Week