US House Passes Debt Ceiling Deal, Investors Relieved.
Financial markets showed little reaction to the US House of Representatives' passage of a debt ceiling deal that would avert global financial turmoil and an all but certain recession. Stocks never fell in the lead-up to the vote based on expectations that Congress ultimately would reach an agreement to avoid default. Investors can return to fretting over a more familiar set of woes -- inflation, Fed interest rate hikes and the risk of a recession.