Recapping the day's news and newsmakers through the lens of CNBC.
Talk of temporary deal leads to stock euphoria
Stocks soared today after House Speaker John Boehner offered a six-week debt-ceiling increase if President Obama would talk about budget and deficit issues. Obama said he'd prefer a long-term deal but would accept a temporary one to give Boehner time to deal with the Tea Party. Boehner's offer came as Treasury Secretary John Lew told Congress that failure to raise the debt ceiling could cause "irrevocable damage" to the financial markets and economy. Is this a free market economy, or a "free the market" economy?
"We need to reopen the government and pay the nation's bills, no strings attached."—Senate Finance Committee Chairman Max Baucus, a Montana Democrat