US stocks finished sharply higher on Friday on hopes that talks on raising the US debt ceiling could further progress and a deal could eventually be made, while chip stocks surged for a second straight day on optimism about artificial intelligence.After several rounds of talks, US President Joe Biden and …
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The US Treasury Secretary Janet Yellen spoke on Friday and extended the deadline for raising the federal debt limit, saying the government could default on its debt as early as June 5 without increasing the country’s $31.4 trillion debt ceiling. Yellen had previously put that date as in early June, …
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US data pointed to a resilient economy while progress on US debt ceiling talks remained elusive, helping Treasury yields higher and the US Dollar to score its highest level in over two months. Traders were wary of a possible default in early June while US President Joe Biden and top …
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On Monday, US House Speaker Kevin McCarthy expressed optimism about reaching a deal on the debt-limit with White House negotiators, stating that discussions had been productive leading up to a meeting with President Joe Biden later in the day. McCarthy said he’s insisting on an agreement to “spend less” than …
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On Thursday, Speaker Kevin McCarthy voiced optimism that negotiators have a structure now and are working two or three times a day. DeSantis suggests only he could beat Biden ahead of the expected 2024 launch. McCarthy also praised Biden’s picks to lead the talks – a move by the White …
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In the second half of 2023, the International Energy Agency forecasts a 2 million bpd supply deficit. The rise in oil prices is a result of positive developments in the US debt ceiling negotiations. Due to a slowdown in China’s economic growth, US crude oil prices are rising despite rising …
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On Tuesday, US President Joe Biden threatened to veto legislation that would tie support for raising the debt ceiling to significant spending cuts. The White House declared that it opposed the bill and that “the President has been clear that he will not accept such attempts at hostage-taking.” The legislation …
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Kevin McCarthy, the California Republican, is officially the new speaker of the US House after a hot Capitol Hill drama that continued for almost four days and 15 rounds of votes. If the House chaos for electing a new speaker had continued for weeks, the financial markets could have worried …
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