Stock market news today: Indexes perk up on potential debt-limit deal

US stocks rose Friday as investors headed into the long holiday weekend with reports that Democrats and Republicans in Washington were moving closer to clinching a deal that would prevent the government from defaulting on its debt.

The S&P 500 and the Nasdaq Composite were on track to notch a second straight gain, and the Dow Jones Industrial Average was looking at its first advance after falling over the past five sessions. Multiple reports said lawmakers were nearing an agreement that would raise the country's $31 trillion debt ceiling for two years. That move is needed for the Treasury Department to continue to pay the country's bills, with the cash balance on pace to run out as soon as June 1.

A deal could put caps on discretionary spending for two years while rolling back $10 billion of the $80 billion Congress approved in 2022 for the IRS to crack down on high earners and corporations that evade taxes, . Republicans have been pushing for spending cuts while Democrats could use shifted IRS budget funds to avoid further cuts in programs such as education, the report said.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Stock market today: AI frenzy pulls Wall Street higher despite DC debt woesA monster financial forecast from one of Wall Street’s most influential stocks is helping to support the market, even as worries worsen about political rancor in Washington.
La source: KPRC2 - 🏆 80. / 68 Lire la suite »

Stock market today: World markets higher as US government debt talks said to make headwayWorld markets were mostly higher Friday, lifted by optimism that Congress and the president will strike a deal to unlock a vote for lifting the U.S. government’s debt ceiling and avert a potentially calamitous default.
La source: wjxt4 - 🏆 246. / 63 Lire la suite »

U.S. stocks open mostly higher as Nvidia drives tech rallyU.S. stock indexes opened mostly higher after Nvidia gave stronger-than-expected revenue forecast for its fiscal second quarter, while the Dow Jones Industrial Average was off 55 points, or 0.2%, to 32,744:
La source: MarketWatch - 🏆 3. / 97 Lire la suite »

U.S. stocks open modestly higher after PCE report shows prices continued to climb in AprilU.S. stock indexes opened modestly higher on Friday despite a stronger-than-expected reading on April inflation. The Dow Jones Industrial Average was up 50 points, or 0.2%, to 32,832:
La source: MarketWatch - 🏆 3. / 97 Lire la suite »

Toronto-Dominion Bank stock dips on earnings growth warningToronto-Dominion Bank stock is down 1.5% in premarket trading on Thursday after the Canadian bank with a sizeable U.S. presence said it does not expect to...
La source: MarketWatch - 🏆 3. / 97 Lire la suite »