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US STOCKS-Market recovers ground after mortgage deal news

Tue, Jan 13, 2009

US STOCKS-Market recovers

The Nasdaq climbed to a session high on Wednesday, while the S&P 500 turned positive and the Dow pared losses following news that Citigroup Inc (C.N) will support legislation to stem foreclosures.

* Three Democratic senators said they would announce a deal later on Thursday, under which Citigroup is expected to support a law that would allow bankruptcy courts to alter the terms of mortgages, congressional aides said.

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