Stocks set for gains as Congress nears debt ceiling deal


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IAC/Interactive Corp. $2.7B to magazine publisher Meredith. I have agreed to buy

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we store Futures rise after Thursday morning MPs Closer to a short-term deal to raise the loan limit.

Dow Jones Industrial Average futures rose 252 points, or 0.73%, while S&P 500 futures and Nasdaq 100 futures rose 0.84% ​​and 1.08%, respectively.


Senate Majority Leader Chuck Schumer, D.N.Y. The U.S. said early Thursday that there had been “good progress” on debt limit talks, but no agreement had yet been reached. A report Wednesday said Republicans were keen to extend the limit until December, but wanted a deal tied to a number, not a date.

In shares, Apple Inc., Amazon Inc. and Microsoft Corp. including mega cap technology companies were on a profit path for the third day in a row.

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Meanwhile, IAC/Interactive Corp. The magazine agreed to buy publisher Meredith for $42.18 per share, or $2.7 billion. The deal does not include local media conglomerate Gray Television, which was sold for $16.99 per share and is set to close later this year.

Twitter Inc. inked a deal to sell mobile advertising company MoPub to AppLovin for $1.05 billion in cash. Twitter bought the company in 2013 in a deal that was valued at over $350 million.

Elsewhere, Costco Wholesale Corp. said September sales rose 15.8% from a year earlier, topping analysts’ forecasts.

Levi Strauss & Co. reported earnings and revenue that exceeded estimates because back-to-school shopping boosted sales.

In commodities, West Texas Intermediate crude fell $1.16 to $76.27 an ounce and gold rose 60 cents to $1,762.40 an ounce.

There was a boom in foreign markets.

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The European market edged higher, with Britain’s FTSE 100 gaining 1.07%, Germany’s DAX 30 by 1.23% and France’s CAC 40 by 1.43%.

In Asia, Hong Kong’s Hang Seng index climbed 3.07% and Japan’s Nikkei 225 was up 0.54%. China’s Shanghai Composite remained closed for the holiday.

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