Wall Street surged Monday morning on word President Obama and Congress agreed on a debt deal that could help the U.S. avoid default and a possible downgrade from ratings agencies. But analysts warn that the euphoria could be brief, as the debt crisis has damaged investors' confidence and may yet hurt the country's credit rating. "It is a relief rally on the back of the parties coming together, but it could only last for a couple of days," said Manoj Ladwa, a senior trader and ETX Capital. The worldwide market also boosted at the news, Bloomberg reports. The Stoxx Europe 600 index rose 0.7 percent to 267.11 at about 10:30 am in London and the MSCI Asia Pacific index went up 1.3 percent.
