US stocks climbed Friday, but were on track for a weekly decline as investors continue to take in the ongoing debt-ceiling stalemate. Reports said that a planned Friday meeting between lawmakers and President Joe Biden has been delayed until next week.
With a looming potential US default and more regional bank weakness surfacing, recession fears are mounting. Treasury Secretary Janet Yellen said the so-called X-date, when the US could default on its debt, could arrive as soon as June 1. Meanwhile, Federal Reserve Governor Michelle Bowman said Friday that still-high inflation could justify another interest rate hike, which would heighten the risk of a downturn. Her comments followed weaker-than-expected wholesale prices data, which pointed to easing inflation.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market news today: Tech stocks rise as inflation coolsUS stocks trade mixed as investors assess cooler April inflation data
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stock market news today: US weekly jobless claims jump to 2021 levelsUS stocks dip after renewed banking concerns and rise in jobless claims
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stock market news today: Jobless claims spike reignites recession fearsUS stocks trade mostly lower as fresh economic data spurs new recession fears
Source: BusinessInsider - 🏆 729. / 51 Read more »