US stocks trade mixed after paring gains as investors await completion of debt ceiling deal
raise the debt ceiling until January 2025
and includes various spending cuts and deficit reduction measures, including keeping non-defense discretionary spending roughly flat in 2024, with only a 1% increase in 2025. The deal will allow the US to avoid the fast-approaching"X-date," when the Treasury runs out of money to pay its bills. Treasury Secretary Janet Yellen estimates that day could come on June 5.
The deal still has to be voted on and passed in the House and Senate chambers of Congress before going to Biden for his signature. And several Republicans voiced opposition to the deal on Tuesday, threatening prospects of its passage. Meanwhile, artificial intelligence stocks continued to jump on Tuesday, with shares of Nvidia jumping about 3% to a record high. The stock briefly hit
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin rises as investors await vote on tentative debt ceiling agreementBitcoin briefly recovered the $28,000 level over the extended holiday weekend for the first time since the beginning of the month.
Read more »
Stock futures are little changed as traders await debt ceiling progress in Washington: Live updatesThe move in futures comes after a muted day of trading on Tuesday that saw the Dow shed about 50 points while the Nasdaq Composite rose 0.3%.
Read more »
Why Big Tech stocks' massive gains could be bad news for investorsBig Tech stocks' massive gains this year have made them even more dominant. That could be bad news for investors.
Read more »
AI investing: Average investors aren't buying into the hype yetRetail investors aren't buying into the AI hype yet, and the boom pales in comparison to the meme-stock bubble
Read more »
European stocks slip as tech, bank drag; investors assess U.S. debt ceiling dealEuropean shares edged lower in light trade on Monday, on losses in technology and bank stocks, while investors assessed the tentative deal reached by U.S. lawmakers to raise the nation's debt ceiling and avert a default.
Read more »
Consensus Survey: TradFi Investors Remain Bullish on Crypto’s Long-Term ProspectsInstitutional investors and asset managers remain bullish on cryptocurrency's future, Angelo Calvello says in his latest Consensus2023 survey. Despite previous market crashes, almost 70% still view crypto investing favorably. An opinion:
Read more »