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U.S. Stocks Pare Loss as White House Plans Meeting Over Debt

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Oct. 14 (Bloomberg) -- U.S. stocks pared losses as the White House said the president and vice president will meet with congressional leaders this afternoon, spurring optimism that a deal will be reached to lift the debt ceiling.

President Barack Obama and Vice President Joe Biden will meet with congressional leaders at 3 p.m. in Washington, the White House said in statement. Obama will make clear the need for Congress to act to pay nation’s bills and reopen the government, the statement said.

The Standard & Poor’s 500 Index was down 0.1 percent at 1,701.2 at 12:01 p.m. in New York after losing as much as 0.7 percent earlier.

To contact the editor responsible for this story: Michael P. Regan at mregan12@bloomberg.net

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