News Summary: Stocks rise as debt talks continue

AP News
Posted: Oct 14, 2013 4:48 PM

AVOIDING A DEFAULT: Stocks rose Monday on signs Washington was moving closer to a deal that would avert a default by the U.S. government.

SELL-OFF AVERTED: Stocks were lower in early Monday trading after negotiations between the White House and House Republicans broke down over the weekend. However, stocks erased those losses in early afternoon trading following news that President Barack Obama would meet with Congressional leaders.

NETFLIX COMES TO CABLE? Netflix rose $23.51, or 8 percent, to $324.36 after The Wall Street Journal reported that the video streaming service is in talks to offer its services to cable companies. The newspaper cited anonymous sources and said that the discussions are in their early stages.