Wall Street rallies fueled by McCarthy's comments and hopes for raising the US debt limit ⚡
Wall Street opens higher after positive comments from MCCarthy, he said that talks also made progress this morning and negotiators will continue to work today on the Debt Ceiling.
Debt-limit negotiations continued overnight, according to House Speaker Kevin McCarthy, as the deadline for potential default approaches. McCarthy expressed optimism about the progress made during the talks, stating that they worked into the night and made headway. However, he mentioned that he hasn't had recent communication with President Joe Biden. With most lawmakers away for the long holiday weekend, the Capitol complex is nearly empty, but negotiators have been instructed to keep working until an agreement is reached. While the two sides have narrowed their differences in recent discussions, the specifics of the agreement remain tentative and a final resolution has not yet been achieved.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThe US500 and US100 indices rally after the opening, driven by optimism surrounding a potential debt-ceiling agreement. If an agreement is reached, it could lead to further market gains and potentially result in a break above a crucial support level.
US100 gains nearly 2% on the opening breaking above significant support around 14k points. Timeframe D1, source: xStation 5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
