Markets have been affected for weeks by worries about whether US President Joe Biden and Republican House Speaker Kevin McCarthy will reach an agreement to raise the debt ceiling in the United States and avoid default.
However, several American media have shown that the two teams of the president and the speaker of the House of Representatives agree on a few broad lines.
The “New York Times” and “Washington Post” newspapers claimed that the agreement would freeze certain expenditures, but without prejudice to the budgets allocated to defense and veterans, and that this agreement was inevitable, so that the conservatives accepted a vote in Congress to raise the US public debt ceiling.
The agreement will also defer the risk of default for two years, until the next presidential elections.
market performance
The pan-European STOXX 600 index closed 1.2% higher, its biggest daily gain in nearly two months, after falling to an eight-week low on Thursday.
On a weekly basis, the benchmark fell 1.5%, its biggest weekly loss in more than two months.
NVIDIA stock continued its strong performance, after the company’s earnings expectations came in 50% above market expectations, today rising the stock 2.49% to $389.18.
Technology, the best performing sector, posted gains for the second day in a row, while ASML shares jumped 4.5% to their highest level in more than a year.
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