US stocks pushed higher Friday with investors picking up on signals from Washington that Republican lawmakers and President Joe Biden could soon come to an agreement on raising the country's debt ceiling.
Gains on Friday would add to this week's advance that lifted the S&P 500 and the Nasdaq Composite to nine-month highs. "The Bulls are back in the driver's seat on the heels of investor optimism over a likely debt ceiling resolution and a near-term exodus from the Fed's hawkish interest rate policy," Greg Bassuk, CEO at AXS Investments, wrote in emailed comments to Insider. in Washington along with former Fed Chair Ben Bernanke.
Elsewhere in Washington, negotiators representing President Biden and House Speaker Kevin McCarthy wereover lifting the $31 trillion debt ceiling that's needed to avoid a debt default. "I see the path that we can come to an agreement. And I think we have a structure now and everybody's working hard," McCarthy told reporters Thursday,