2023-05-22 15:24:47
The main indices on Wall Street began Monday’s trading on a mixed note, with markets awaiting developments related to lawmakers’ talks regarding raising the US debt ceiling.
US President Joe Biden is expected to meet House Speaker Kevin McCarthy later Monday, as his aides spent the weekend trying to reach an agreement.
The congressional deadline to raise or suspend the cap is fast approaching, with some estimates saying the government will run out of options to continue paying its obligations on June 1st.
Economic analysts and Biden administration officials said earlier that default might create chaos in financial markets.
Uncertainty also hangs over the markets, as the Federal Reserve prepares to meet once more next month to decide the next move on interest rates.
Three-quarters of futures traders expect the Fed to keep interest rates steady in June, a pause so policymakers can assess the impact of their decisions on inflation.
Market movements
The Dow Jones index fell 73.94 points, or 0.22 percent, to 33,352.69 points by 15:13 GMT.
The Standard & Poor’s 500 Index rose 4.42 points, or 0.10 percent, to 4,197.13 points.
The Nasdaq Composite Index rose 57.08 points, or 0.45 percent, to 12,714.96 points.
The Chinese authorities had banned some sales of Micron Technology, which was reflected in the company’s shares, which fell 3.37 percent to $65.86.
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