The enthusiasm was muted by worries about the Chinese economy after disappointing recent data on a recovery.
But the enthusiasm was muted by worries about the Chinese economy after disappointing recent data on a recovery in the world's second largest economy, and a key driver of regional growth.
If the debt deal also passes in the Senate, government checks will continue to go out and it would prevent financial upheaval at home and abroad ahead of the Monday deadline when the Treasury said the U.S. would run out of money to pay its debts. Wall Street has been able to hold up pretty well recently, largely because of gains for a handful of tech companies and others getting swept up in the buzz around artificial intelligence. The S&P 500 managed to close out May with a modest gain.
"We see this as a race for weakness between inflation and economic activity,” said Tony Roth, chief investment officer at Wilmington Trust.
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