Stocks edge higher as Wall Street shakes off volatility

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.