U.S. stocks rose sharply yesterday, fueled by optimism over a potential deal on the 31.4 trillion dollar federal debt ceiling. The rise was also attributed to a rebound in regional bank shares easing concerns about an escalation in the sector's troubles.
 
The Nasdaq Composite index gained 1.3 percent. Both the Dow Jones Industrial Average and the S&P 500 rose 1.2 percent each.