Media playback is unsupported on your device

Investors more optimistic as US budget talks continue

11 October 2013 Last updated at 12:04 BST

Talks continued into the night in Washington as the Obama administration and Republicans tried to break the US budget deadlock.

Global markets were rattled by fears that the US would be left unable to pay its bills next week.

Stocks soared on the news that the Republicans were offering a temporary deal to raise the so-called debt ceiling - America's borrowing limit.

Mariko Oi reports from New York.

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.