Wall Street: Mixed signals centered on US debt

Closed with mixed marks Wall Street Where investors turn to the negotiations on the level of US debt. daw decreased by 0.42%, to 33,286.55 units, The S&P 500 closed with gains 0.02% to 4192.68 units and o Nasdaq by 0.50%, to 11,720.78 units.

The meeting held by Democrats and Republicans on Friday night on increasing the US borrowing limit, again ended in deadlock. His talks are expected again today The President of the United States with the Republicans.

However, after the talks, President Joe Biden, although he did not fail to call the Republicans’ latest proposals “unacceptable,” nonetheless declared that he was ready to reduce costs and make tax adjustments in order to achieve the agreement. An indication of his intentions was his statement from Hiroshima, Japan, where he participated in the G7 summit: “I still believe we will be able to avoid default.”

After all, the no-deal scenario is more than… disastrous to be the field of choice. US Treasury Secretary Janet Yellen Giving full notice of the scale of the disaster, he revealed on Sunday that if Congress does not agree to raise the US debt ceiling, “hard choices” will have to be made about the bills that won’t be paid.

However, as they say Analysts at CNBCDemocrats and Republicans are expected to reach an agreement. However, the delay in reaching an agreement increases the “pressure” in the market.

At the same time, investors are also looking at the data Federal Reserve officials on monetary policy. its boss St. Louis Fed He said that more rate hikes may be needed to tame inflation, while the head said Federal Reserve Bank of Minneapolis, In his remarks to CNBC, he made it clear that the chances between raising interest rates in June or not are divided.

In business news, it scores lower dead stock. The Wall Street Journal reported Monday that European Union regulators have fined the company that owns Facebook $1.3 billion for sending user data to the United States. Meta Platforms has also been given a deadline to stop sending user data to the US after regulators said it failed to protect personal information from the prying eyes of US security agencies.