After a tense weekend of bargaining, President Barack Obama and congressional leaders announced an agreement to raise the debt ceiling. Wall Street immediately cheered the breakthrough, sending the Dow industrial average higher at the open. Those gains were given back after a weak manufacturing report. The Senate is expected to take up the newly brokered legislation, but a vote may not be cast until early evening Monday. The AP is covering the story in all formats.

POLITICS
DEBT SHOWDOWN
WASHINGTON — A crisis-conquering deficit-reduction agreement struck by the White House and congressional leaders after months of partisan rancor picks up momentum in the Senate, as a member of the Republican leadership predicted at least 30 GOP votes. By Andrew Taylor. This story will contain all major developments and be updated throughout the day.
DEBT SHOWDOWN-ANALYSIS
WASHINGTON — The newly struck debt-ceiling compromise between President Barack Obama and the Republican leaders of Congress represents a historic accomplishment of divided government, with all the disappointment that implies for the most ardent partisans inside the two major parties and out. By Special Correspondent David Espo.
DEBT SHOWDOWN-AMERICA REACTS
LOS ANGELES — Americans seem relieved that the wrangling over the debt limit is over. But for the deal itself — not so much. People around the country had a range of reactions to the agreement hammered out by the president and top lawmakers, but mild disappointment with an occasional touch of sympathy were about as positive as they got. By Andrew Dalton.
DEBT LIMIT-FALSE ADVERTISING
CHAPEL HILL, N.C. — The federal debt limit is a triumph of false advertising. It doesn’t really limit the national debt. Whenever the false ceiling has been reached, it has been raised — forcing unpopular votes in Congress, but not the really hard ones it would take to cut spending, raise revenues and balance budgets. By Special Correspondent Walter R. Mears.
— DEBT SHOWDOWN-BIDEN — Vice President Joe Biden heads to Capitol Hill to sell Democrats on debt deal.
— DEBT SHOWDOWN-PRESIDENTIAL POLITICS — Republican presidential candidate Mitt Romney opposes debt ceiling deal, supports House Republican “cut, cap and balance” approach.
— DEBT SHOWDOWN-REPUBLICANS — Sen. John McCain, R-Ariz., says he’s worried about Pentagon budget, but will “swallow hard” and vote for debt deal.
— DEBT SHOWDOWN-OBAMA — Senior Obama adviser applauds new debt-limit deal, bemoans “messy” political fight in capital.
— DEBT SHOWDOWN-HIGHLIGHTS — Highlights of budget and debt limit pact.
BUSINESS
DEBT SHOWDOWN-ECONOMY
WASHINGTON — The first phase of a deal to raise the government’s borrowing limit would pose little threat to the economy in the short term because almost none of the spending cuts would occur before 2014. By Christopher S. Rugaber and Martin Crutsinger.
DEBT SHOWDOWN-CREDIT RATING
NEW YORK — Will a tentative deal to cut the budget and avert a default be enough to mollify credit ratings agencies and keep them from lowering the nation’s AAA rating. By Pallavi Gogoi.
DEBT SHOWDOWN-YOUR MONEY
NEW YORK — What the tentative deal to cut the budget means for investors and consumers. By Dave Carpenter and Candice Choi.
— WALL STREET — Dow Jones average gives up early rally on debt deal after U.S. manufacturing slows in July.
PHOTOS:
— DCCK109, Obama turns to leave after speaking from the White House briefing room Sunday after announcing a bipartisan deal to raise the debt limit. By Carolyn Kaster.
— XJK102, A man stops and checks financial data outside a securities firm in Tokyo. Asian stock markets jumped Monday after Obama announced a last-minute agreement to raise the government’s debt limit and avoid a default. By Junji Kurokawa.
— DCCK102, Obama speaks from White House briefing room. By Carolyn Kaster.
— DCHH136, Senate Minority Leader Mitch McConnell, R-Ky., smiles as he walks to the Senate floor to announce that a deal has been reached on the debt ceiling. By Harry Hamburg.
— DCSW116, Senate Majority Leader Harry Reid of Nev. and Sen. Charles Schumer, D-N.Y., walk through the Capitol after a meeting with House Democratic Leader Nancy Pelosi, D-Calif. By Susan Walsh.
VIDEO:
— Online Video coverage will focus on the winners and losers in the deal.
— From Capitol Hill, we will look at efforts on both sides to get enough votes to pass legislation in House and Senate and will again highlight key parts of the deal. Later piece will wrap after expected votes.
— For business elements/market reaction, an early markets reaction piece. Later package will focus on impact of deal to the overall economy.
— Finally, a video package from Chicago on middle America reaction to the deal/compromise. Will focus on the lack of tax increases, overall feeling on economy, etc.
MULTIMEDIA:
— DEBT SHOWDOWN— An interactive about the debt showdown has been updated.