ASX set to jump after US debt deal reached October 17, 2013 - 7:54AM The Australian market looks set to open higher after US Senate leaders reached a deal for a temporary budget and to extend the debt ceiling, ending the government shutdown. Some analysts rating changes: Newcrest Mining cut to 'sector perform' at RBC Capital. Perseus Mining raised to 'outperform' at CIMB. An 11th-hour deal to end the US government shutdown and raise the debt ceiling sparked a strong rally on Wall Street, with gains of nearly 1.4 per cent.Although it was not a completely done deal - final votes were still required in both houses of Congress late on Wednesday - it was expected that the crisis that had unnerved global markets would be over by Thursday. The Dow Jones Industrial Average was up 205.76 points (1.36 per cent) at 15,373.77. The broader S&P 500 rose 23.45 (1.38 per cent) to 1,721.51. The Nasdaq Composite gained 45.42 (1.20 per cent) at 3,839.43. European stock markets gained on expectations that US politicians would avoid a disastrous default just hours ahead of a deadline.Sentiment was rattled early in Wednesday's session as ratings agency Fitch placed the US on warning for a downgrade from its top-level AAA assessment. London's benchmark FTSE 100 index added 0.34 per cent to 6,571.59 points. Frankfurt's DAX 30 climbed 0.47 per cent to set a new record close at 8,846.0 points. The CAC 40 in Paris rose 0.29 per cent to 4,243.72 points. Asian markets were mixed as investors focused on the US, where lawmakers remained at loggerheads over a budget bill despite having just over a day to raise the debt ceiling and avoid a default. Tokyo's Nikkei rose 0.18 per cent, or 25.60 points, to 14,467.14. Shanghai composite closed down 1.81 per cent, or 40.34 points, at 2,193.07 Hong Kong's Hang Seng fell 0.46 per cent, or 108.19 points, to 23,228.33. At the close of open-outcry trading in the LME ring on Wednesday, LME three-month copper was 0.2 per cent higher at $US7,260 a metric tonne. Aluminium was 0.4 per cent higher at $US1,855.50 a tonne.