Debt ceiling deliberations, more retail earnings, and the minutes from the Federal Reserve’s latest meeting await investors as highlights in the week ahead.
House Speaker Kevin McCarthy (R-Calif.) said Saturday discussions over the debt ceiling wouldn’t resume until President Biden returns from his trip to Japan for a G-7 meeting. On Sunday before departing the G-7, Biden called the GOP’s debt-ceiling stance “unacceptable,” adding it was “time for the other side to move from their extreme positions.” This as Treasury Secretary Janet Yellen’s June 1 “X-date” looms.
On Friday, the two parties put talks on pause, raising doubts about the near-term potential for a deal and sending markets lower.
All three major indexes still finished the week with gains, however, notably the Nasdaq, which rose more than 3%.
The Nasdaq and S&P 500 had their best week since March and their highest weekly close since August 2022. Year to date, the Nasdaq is up more than 20%, while the S&P 500 has risen more…
This article was written by and originally published on finance.yahoo.com