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By Jason Stipp and Jeremy Glaser | 10-11-2013 10:00 AM

The Friday Five

This week: Sizing up a possible debt ceiling compromise, a Yellen-led Fed, and more.

Jason Stipp: I'm Jason Stipp for Morningstar and welcome to The Friday Five: five stats from the market and the stories behind them.

Joining me, as always, with The Friday Five is Morningstar markets editor Jeremy Glaser.

Jeremy, thanks for being here.

Jeremy Glaser: You're welcome, Jason.

Stipp: What do you have for The Friday Five this week?

Glaser: The numbers are 6, 15, 2.9%, $80 billion, and finally, 4%.

Stipp: Six refers to the six-week extension to the debt ceiling, which is under serious consideration after a lot of gridlock in Washington. The market seemed to respond very favorably to news of this possible deal on Thursday. What's the latest?

Glaser: It does sound like we're making some progress in Washington. Although we just don't know what the exact outline of the deal looks like--it will probably be negotiated throughout today and this weekend--it sounds like we're going to be able to push off that debt ceiling limit by a few weeks here in order to create some time to negotiate some of these bigger fiscal issues.

But I would say to most investors not to get too excited about any kind of grand bargain or any kind of big deal coming from these negotiations. Both sides are just too far apart on what they would want out of a deal in order to bridge that gap in just a couple of weeks. There are just only so many pieces that can give or take in order to make something like that happen.

I think it's much more likely that we're going to see a much more limited, smaller deal that could deal with things like the medical device tax part of Obamacare; both Democrats and Republicans really dislike this part of the bill. I think we could see that chopped off and maybe revenue raised somewhere else to make up for that. We could see maybe tort reform come back as a negotiating point.

So I think we could see a little bit of give and take in that negotiation, but it's going to be much more limited in scope--so both sides can say that they were able to take something away from the table. It's unlikely to be some kind of major transformative deal that removes these debt ceiling and budget debates for years to come.

Stipp: So even if we push the debt ceiling off by a few weeks, it doesn't diminish the seriousness of going through that debt ceiling.

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