Stocks edge higher as Wall Street shakes off volatility
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By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers
Stocks have closed slightly higher on Wall Street as investors recovered from nearly a week of high volatility. Major indexes recouped early losses after the market turned around when Senator Mitch McConnell offered Democrats a short-term extension of the debt ceiling, temporarily relieving some uncertainty over a looming deadline for the government to avert defaulting on its financial obligations. The S&P 500 rose 0.4% and the Dow Jones Industrial Average gained 03% while the Nasdaq Composite closed 0.5% higher. Energy prices retreated after a strong rally that contributed to renewed inflation fears among investors.