Wall Street closes on mixed ground with a poor performance of the Dow Jones that falls 0.42%

Uncertainty continues around the negotiation to raise the spending ceiling, before the United States You cannot meet your payments on June 1. The Democrat Joe Biden, and the leader of the House of Representatives, the Republican legislator Kevin McCarthy, hold their umpteenth meeting tonight. With no hope of progress in this area and with Treasury Secretary Janet Yellen juggling the leading indicator on Wall Street, the Dow Jones Industriales fell 0.42% to 33,286 units.

In parallel, the selective S&P 500 it gained 0.02% to 4,192 points while the good news of the session was given by the index Nasdaq, in which the main technology companies are listed, which rose 0.50%, to 12,720 integers. These moves on Monday sent the tech index to its highest close and highest intraday level since August, according to CNBC.

For his part, he Texas intermediate oil price (WTI) It rose 0.6% this Monday and closed at $71.99 a barrel, the expiration day of the contract for June. Specifically, at the close of operations, the barrel of WTI for delivery in June has gained $0.44 compared to the close of the previous day.

Back with the debt ceiling

One more day investors have been awaiting the agonizing negotiations to raise the spending ceiling between the White House (Democrat) and a House of Representatives in Republican hands since January. McCarthy he was confident but inflexible on Sunday. “I think we can fix some of the problems if (Biden) understands what we’re looking at. But I’ve been very clear with him from the beginning: we have to spend less money than last year,” he told reporters. The meetings between both parties are stalled and they had to be suspended for a few hours last Friday after a meeting in Washington in which their respective positions were irreconcilable. For his part, Biden has come to describe the Republican ideas on the debt ceiling as “unacceptable” and highlighted that they are in “extremist positions.”

All this, while the Secretary of the Treasury, Janet Yellen, warned that if there is no white smoke on June 1 it will be “an economic disaster” and could be forced to default on the debt. All this, in a complex week in which various economic data will be announced, on Thursday a ssecond reading of GDP of the first quarter and on Friday the personal consumption expenditure indicator. In addition, the minutes of the US Federal Reserve (Fed) from the last meeting in May will be published on Wednesday and these documents could shed light on how the central bank is considering further rate hikes.

Source: LA INFORMACIÓN – Lo último by www.lainformacion.com.

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