Senator says deal is coming

WASHINGTON -- Senate Republican leaders met Wednesday before a gathering of the full GOP caucus, and Sen. Kelly Ayotte of New Hampshire said the announcement of a deal to reopen the government and avoid a possible U.S. default could be coming, CNN's Ted Barrett and Dana Bash reported.

Senate leaders raced to complete a deal Wednesday that would reopen the government and avoid a potential first-ever U.S. default as soon as midnight, when the Treasury says the nation will be unable to borrow more money to pay its bills.

Legislators dropped hints on their way home Tuesday that Senate Majority Leader Harry Reid and his Republican counterpart, Mitch McConnell, will present a deal to raise the debt ceiling and fund the government to end the shutdown as soon as Wednesday.

U.S. stocks opened higher on the expectation of a deal to resolve the latest fiscal crisis caused by partisan brinksmanship in Washington.

According to sources, the Senate deal under discussion would fund the government until December 15 to reopen the government and raise the federal borrowing limit until February 7 to avert a possible default.

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