(Corrects index levels in fourth bullet to show rise instead of
* Obama, Biden to meet congressional leaders over debt limit
* Netflix leads tech shares higher
* Columbus Day holiday keeps stock markets' volume low
* Indexes up: Dow up 0.14 pct; S&P up 0.11 pct; Nasdaq up
By Julia Edwards
NEW YORK, Oct 14 U.S. stocks rose on Monday,
rebounding from losses, as plans for President Barack Obama and
Vice President Joe Biden to meet congressional leaders raised
hopes a resolution to the fiscal impasse was closer.
Obama and Biden were due to meet at 3 p.m. (1900 GMT) with
Senate Majority Leader Harry Reid, Senate Republican Leader
Mitch McConnell, House of Representatives Speaker John Boehner,
and House Democratic Leader Nancy Pelosi, the White House
Stocks had dipped after weekend talks failed to reach a
solution that would reopen the federal government and raise the
$16.7 trillion federal borrowing limit by Oct. 17. Failure to
raise the debt ceiling could leave the world's biggest economy
unable to pay its bills in the coming weeks.
"They are looking for a big agreement sooner rather than
later," said Stephen Carl, principal and head equity trader at
The Williams Capital Group in New York.
"Everything is kind of 'to-be-determined.'"
Netflix Inc shares rose 5.5 percent at $317.38
after the Wall Street Journal reported that the company is in
talks with several U.S. cable television companies, including
Comcast Corp and Suddenlink Communications
, to make its streaming video service available
through their set-top boxes.
Trading volume was low at 1.69 billion shares because of the
Columbus Day holiday, with banks and the U.S. bond market
The Dow Jones industrial average rose 21.4 points or
0.14 percent, to 15,258.51, the S&P 500 gained 1.84
points or 0.11 percent, to 1,705.04 and the Nasdaq Composite
added 11.083 points or 0.29 percent, to 3,802.956.
The government shutdown, entering its third week, was seen
as a drag on the economy by shaving a small percentage off the
GDP with each passing day.
Shares of washing machine manufacturer Whirlpool
were down 5.6 to $132.50. A note from Cleveland Research pointed
to softening demand for appliances.
Expedia Inc shares were off nearly 7 percent at
$48.12 after a rating cut by Deutsche Bank AG.
Major companies will resume reporting third-quarter
earnings. On Tuesday, earnings are expected from Citigroup Inc
, Coca-Cola Co, Johnson & Johnson, and Intel
(Reporting by Julia Edwards; Editing by Nick Zieminski and