{"id":2044,"date":"2023-05-27T00:08:30","date_gmt":"2023-05-27T00:08:30","guid":{"rendered":"https:\/\/latestnews.top\/2023\/05\/27\/market-report-hopes-of-us-debt-ceiling-deal-lifts-global-markets\/"},"modified":"2023-05-27T00:08:30","modified_gmt":"2023-05-27T00:08:30","slug":"market-report-hopes-of-us-debt-ceiling-deal-lifts-global-markets","status":"publish","type":"post","link":"https:\/\/latestnews.top\/market-report-hopes-of-us-debt-ceiling-deal-lifts-global-markets\/","title":{"rendered":"MARKET REPORT: Hopes of US debt-ceiling deal lifts global markets"},"content":{"rendered":"
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Global stock markets ended the week in positive territory amid hopes American politicians are closing in on a deal to extend the US debt ceiling.<\/p>\n
On a steadier day for the main benchmarks around the world, the FTSE 100 rose 0.7 per cent, or 56.33 points, to 7627.20 while Germany’s Dax rose 1.2 per cent and France’s Cac 40 added 1.2 per cent.<\/p>\n
On Wall Street, the S&P 500 was up 1.3 per cent, the Dow Jones gained 0.9 per cent and the technology-heavy Nasdaq climbed 2.2 per cent.<\/p>\n
While negotiations between President Joe Biden and House Speaker Kevin McCarthy continue, the pair are close to signing off a deal that would raise the US government’s \u00a325trillion debt ceiling for two years while capping spending on everything but military and veterans.<\/p>\n
An agreement must be reached before the June 1 otherwise the US will default on its debt, hammering the economy and sparking panic on financial markets.<\/p>\n