Business Today: Wall Street ends up on hopes of debt solution in Washington

	Click to View in Browser 10/11/2013 Wall Street ends up on hopes of debt solution in Washington NEW YORK (Reuters) - U.S. stocks rose on Friday, extending gains from a major rally in the previous session, as investors were hopeful for a solution to end the partial U.S. government shutdown and raise the U.S. borrowing limit to avoid a possible default. JPMorgan posts first loss since 2004, a blow to Dimon (Reuters) - Jamie Dimon, JPMorgan Chase & Co Inc's hard-charging chief executive, looked a bit more vulnerable on Friday after the bank took a $7.2 billion hit from litigation expenses and posted its first quarterly loss since 2004. Fed defends ongoing stimulus, admits communications blips WASHINGTON/NEW YORK (Reuters) - Top Federal Reserve officials said on Friday their decision not to reduce the pace of stimulus was wise given the crippling U.S. government shutdown, while admitting some recent troubles in getting their policy message across. Exclusive: U.S. watchdog readies tighter new commodity limits rule WASHINGTON (Reuters) - The U.S. derivatives regulator is finishing a new rule to curb speculators with large positions in commodity markets that is in parts tougher than the previous version, two sources with direct knowledge of the plan said. Washington drives U.S. consumer sentiment to nine-month low NEW YORK (Reuters) - U.S. consumer sentiment deteriorated in October to its weakest in nine months as the first federal government shutdown in 17 years undermined Americans' outlook on the economy, a survey released on Friday showed. Detroit says gets $350 million financing commitment from Barclays (Reuters) - Barclays will provide cash-strapped Detroit with up to $350 million in debtor in possession financing in the wake of its municipal bankruptcy filing in July, Detroit's top official said on Friday. Cadillac plug-in set for January debut, in more direct battle with Tesla DETROIT (Reuters) - General Motors Co will go head to head with electric car maker Tesla Motors Inc starting in January, when a plug-in version of its luxury Cadillac brand will go on sale. Wall Street Week Ahead: Debt-ceiling battle may overshadow earnings NEW YORK (Reuters) - U.S. stock investors, hoping to leave politics aside to focus on fundamentals, aren't going to get their wish yet as lawmakers battle over raising the debt ceiling. G20 urges U.S. to act quickly to avoid default WASHINGTON (Reuters) - Finance officials from the world's biggest economies on Friday pressed the United States to head off a potentially devastating default and vowed to proceed carefully when the time comes to normalize monetary policy. Wells Fargo profit rises but investors worry about growth (Reuters) - Profit at Wells Fargo & Co rose by a better-than-expected 13 percent in the third quarter, as the largest U.S. mortgage lender made up for a decline in that business by releasing a large chunk of money set aside for bad loans. Related Video Dimon's legal sinkhole Daily Digit: $6.1 billion Economic News Fed defends ongoing stimulus, admits communications blips Obama and Republicans struggle to break fiscal impasse A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend