raise the debt ceiling until January 2025
and includes various spending cuts and deficit reduction measures, including keeping non-defense discretionary spending roughly flat in 2024, with only a 1% increase in 2025. The deal will allow the US to avoid the fast-approaching"X-date," when the Treasury runs out of money to pay its bills. Treasury Secretary Janet Yellen estimates that day could come on June 5.
The deal still has to be voted on and passed in the House and Senate chambers of Congress before going to Biden for his signature. And several Republicans voiced opposition to the deal on Tuesday, threatening prospects of its passage. Meanwhile, artificial intelligence stocks continued to jump on Tuesday, with shares of Nvidia jumping about 3% to a record high. The stock briefly hit
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why Big Tech stocks' massive gains could be bad news for investorsBig Tech stocks' massive gains this year have made them even more dominant. That could be bad news for investors.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: Reuters - 🏆 2. / 97 Read more »