US stock indices tend to post weekly gains for this reason

European equities also benefited from this positive situation, posting solid gains, which pushed the German DAX index above its all-time high during the session.

US President Joe Biden and House Speaker Kevin McCarthy this week renewed their intention to reach an agreement soon to raise the federal debt ceiling to $31.4 trillion, and agreed to hold talks by Sunday.

Sentiment remains mixed as investors balance optimism that the United States will avoid a default crisis, with inflation data that could warn that global central banks will raise interest rates.

According to recent data, analysts believe that inflation in the US is not falling fast enough to allow the US Federal Reserve to halt its interest rate hikes.

However, although there is more time until the date of the next decision, the markets still expect 65.5% on the CME FedWatch index that the Fed will prove its interest in its next decision.

Investors await comments from Federal Reserve Chairman Jerome Powell and New York Fed Chairman John Williams later today.

market performance

US stock indices are heading for weekly gains, benefiting from general market optimism.

The Dow Jones index rose 0.10%, 33,593 points, at 2:07 GMT.

The “S&P 500” index rose 0.24% to 4,208 points, but the “Nasdaq” index fell slightly, by 0.06%, to 12,683 points.

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Arab Desk
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The Eastern Herald’s Arab Desk validates the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

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