On Monday evening there was little change seen in the U.S. stock futures. Futures that are tied to S&P 500 decreased 0.08%. Nasdaq decreased by 0.08%. Dow Jones industrial Averages lost 33 points. Which is 0.1%.
“Waiting until the last minute to suspend or increase the debt limit can cause serious harm to business and consumer confidence, raise short-term borrowing cost for tax-payers, and negatively impact the credit rating of the United States,” Yellen said.
“We have already seen Treasury’s borrowing costs increase substantially for securities maturing in early June,” she said.
House Speaker Kevin McCarthy, R-Calif., said significant obstacles remain in ongoing negotiations despite Biden’s more optimistic outlook.
“We’re entering some potentially treacherous waters, and we’re likely to get very close to the brink before a deal comes together,” Christopher Gahan said.
According to Biden, raising the debt ceiling is non-negotiable. According to McCarthy, a deal to raise the debt ceiling tied to spending cuts must be negotiated.
During the Monday trading, the stocks closed a little higher. The Nasdaq composite increased 0.66%. S&P 500 increased by 0.3%.
The pan-European euro stoxx 600 index decreased 0.3%.
Retail sales in China rose by 18.4% falling below expectations of 21%.
Industrial production for April was above 5.6% the expectation of economists which is 10.9%.
It increased by 3.9% in March following a muted march.
Fixed asset investment increased by 4.7%. The youth unemployment rate increased by 20.4%. Mitsubishi UFJ Financial Group increased 2.6%. Mizuho financial group shares increased by 1.14%.
Capital One increased by 5.5%. Dish network shares increased by 3.4%.
- Published By Team Nation Press News