As of 1am Singapore time, the Dow and S&P 500 had rallied more than 1.5% to pare some of the heavy losses sustained over the past 2 weeks. Republicans agree to increase the debt ceiling for 6 weeks in an attempt to come to a compromise with Obama's administration.

The optimistic

• Equities will rally to pare losses over the last 2 weeks temporarily
• A debt deal is still plausible so there is a chance market will trend even higher after these 6 weeks
• Bond-buying program from Fed will even less likely be removed in this period
• Amid all the news, Janet Yellen has been nominated to take over Fed chairperson role. Hurray to stimulus.