Debt ceiling drama, retail earnings, Fed Minutes: What to know this week

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…

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