Investors hoped for progress between President Biden and congressional leaders over raising the debt ceiling.
, Yellen reaffirmed that the U.S. faced the possibility of default as early June 1, the so-called "X date," if a deal isn't reached between the White House and Congress.
Biden echoed a more optimistic view of the ongoing negotiations over the weekend, while House Speaker Kevin McCarthy, R-Calif., said significant obstacles still remain. Stocks closed higher during regular trading Monday, with the 30-stock Dow breaking five-consecutive sessions of losses. The tech-heavy Nasdaq Composite led the charge with a 0.66% gain while the S&P 500 added 0.3%.
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