FINANCE

Wall Street has become optimistic about the US debt no-ceiling deal by Reuters


Reuters file photo: Traders work on the floor of the New York Stock Exchange (NYSE), in New York City, USA, September 2, 2021. Reuters / Brendon McDermide

Written by Noel Randewich and Shreyashi Sanyal

(Reuters) – Wall Street ended higher on Wednesday as investors became more optimistic that congressional Democrats and Republicans could reach an agreement to avoid a government debt default.

Top U.S. Senate Republican Mitch McConnell says his party will support raising the federal debt limit in December. This could be a historic historical default that would fix a heavy economic loss.

“McConnell made some harsh remarks about temporarily raising the debt limit,” said Jay Hatfield, founder and portfolio manager at Infrastructure Capital Advisors. “It will be interpreted as positive in the short term.”

McConnell’s proposal could end months of stalemate between President Joe Biden’s Democrats and McConnell’s Republicans.

Much of the stadium was low after a strong showing of private jobs in September as the Federal Reserve could soon begin to control financial stimulus.

It rose 0.3% to close at 34,416.99 points, while up 0.41% to 4,363.55.

Rose 0.47% to 14,501.91.

Mega-cap growth stocks Amazon (NASDAQ 🙂 and Microsoft (NASDAQ 🙂 both rose more than 1% when the benchmark slipped from a three-month high in early afternoon. [US/]

The ADP National Employment Report found that private wages rose 568,000 jobs last month. Economists in a Reuters poll predicted 428,000 job growth.

“Positive labor market data suggests that the Fed may tighten policy at a faster pace. But the hiring issue shouldn’t be discounted – it’s definitely a good thing to recover,” said Mike Loingart, managing director at E * TRADE Financial.

More detailed farmless pay list for Friday. It is expected to cement the case for slowing the Fed’s asset purchases.

Oil prices quickly reached multi-year highs, but crude prices retreated from those highs when the S&P 500 energy sector index exceeded 1%, the weakest performer among the 11 sector indices.

The American Airlines (NASDAQ 🙂 group fell 4.33% after Goldman Sachs (NYSE 🙂 downgraded carrier ratings from “neutral” to “sell.”

Shares in Steelmaker Nucor Corporation (NYSE 🙂 fell 2.75% while Goldman Sachs downgraded its rating from “Buy” to “Neutral”.

The number of issues advancing in the NYSE ratio from 1.31 to -1 has decreased; At Nasdaq, the 1.58-to-1 ratio favors Dickliner.

The S&P 500 posted 52 new 52-week highs and 9 new levels; The Nasdaq Composite recorded 31 new heights and 241 new levels.

The volume of the US exchange was 10.6 billion shares, compared to 11.0 billion shares in the last 20 trading days.

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