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Wall Street opens higher on hopes of debt ceiling deal

Published 05/19/2023, 09:35 AM
Updated 05/19/2023, 10:01 AM
© Reuters. FILE PHOTO: A screen displays the closing numbers for the Dow Jones Industrial Average on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 16, 2023.  REUTERS/Brendan McDermid

(Reuters) - Wall Street's main indexes opened higher on Friday on optimism that a deal to avoid a catastrophic U.S. debt default could be reached over the weekend.

The Dow Jones Industrial Average rose 47.04 points, or 0.14%, at the open to 33,582.95. The S&P 500 opened higher by 6.10 points, or 0.15%, at 4,204.15, while the Nasdaq Composite gained 20.63 points, or 0.16%, to 12,709.46 at the opening bell.

Latest comments

or. Powell would say inflation is over, and massive rate cuts are coming? if the reasoning is due to the massive recession coming, stocks fall, bond prices will skyrocket.
debt ceiling compromise, if any, it is obviously inflationary. so Fed has to go more hawkish. it is probably what powell would say.
wmt was said to have beaten the expected. initial pumping was gone. now tanking.
sell in May and go fishing. sounds good
nasty recession appears kicking in. could be worse than 2008.
Funny that debt default was never priced in the first place. 🤣🤣
Powell probably will say something hawkish. then mkt could tank
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