WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
President Joe Biden and House Speaker Kevin McCarthy are set to meet Monday at 5:30 p.m. ET to continue debt ceiling talks, with just 10 days left before the earliest date that Treasury Secretary Janet Yellen said the U.S. could realistically default.
Veteran negotiators on both sides resumed talks Monday morning in the Capitol, but mandatory government spending cuts remain a major obstacle. Republicans insist on paring back spending to baseline 2022 levels, but Biden said that any cuts across the board without additional tax hikes are out of the question.
E-Mini Nasdaq
Major averages are coming off a winning week. Led by technology stocks, equities continue grinding higher despite uncertainty in Washington and sticky inflation, with the S&P 500 hovering just below the 4,200 level.
While the technology trade may have further to run, some on Wall Street say stronger market breadth is needed for a rally to continue longer term.
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