Indexes rose by midday as investors cheered passage of a bill by lawmakers to suspend the nation's debt ceiling.
to suspend the $31.4 trillion debt ceiling headed to the Senate, which must enact the measure before a Monday deadline, when the government is expected to run out of money to pay its bills.said the Senate will stay in session until members approve the bill.
With signs of progress in the debt ceiling saga, focus will now shift to the Labor Department's closely watched jobs report for May, due on Friday, that will help determine whether the Federal Reserve will stick with its aggressive interest rate-hiking cycle. The odds favoring a pause in rate hikes at the Fed's June 13-14 policy meeting were around 71% after the day's datasets.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall St falls on Fed hike jitters ahead of debt ceiling voteAn unexpectedly strong labor market data reinforced bets of another interest rate hike.
Read more »
Stock Market News Today: Indexes drop as China's economy weakensUS stocks drop as China's economy continues to weaken while the US debt ceiling deal heads for House vote
Read more »
‘Fed Up’ GOP House Rep Tells McCarthy He’s Got to Go“I’m just fed up with the lies, I’m fed up with the lack of courage, the cowardice,” Rep. Dan Bishop (R-NC) fumed.
Read more »
Gold set for monthly drop as Fed hike hopes bolster dollarGold prices were set for their first monthly drop in three on Wednesday, as progress on the U.S. debt ceiling deal and expectations that the Federal Reserve will likely raise interest rates further bolstered the dollar.
Read more »
Fed's Barkin says inflation will be 'more stubborn than many people would hope'The chief of The Richmond Federal Reserve said high inflation probably won't dissipate quickly barring a sharper slowdown in the U.S. economy.
Read more »