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Global stocks rise on fiscal cliff hopes
 

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.

 

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