Meanwhile, Treasury yields rose on speculation that the Federal Reserve will need to raise rates again as inflation remains high.
Technological ones soar in Wall Street this Thursday, May 18, given signs that US legislators are advancing in talks on the debt ceiling and will be able to avoid default.
The S&P 500 is trading up 0.18% at 4,165.80 points, while the Nasdaq 100 is up nearly 1% at 12,603.37 points, its highest level since April 2022 after Chairman Kevin McCarthy said he expected for the House to consider a deal next week.
“The negotiators are not only trying to get a deal done quickly, but the effort is to get a full deal done so that only a debt ceiling increase is needed.said Dan Clifton of Strategas.
Meanwhile, Treasury yields rose on speculation that the Federal Reserve will need to raise rates again as inflation remains high. Traders raised bets on a June rise to around 40% after Fed Bank of Dallas President Lorie Logan said the case for a pause next month is unclear. Central bank governor Philip Jefferson suggested that he is watching for the lagged impact of tightening.
The two-year bond yield, which is more sensitive to imminent Fed moves, topped 4.2% and climbed to the highest level in a month. The dollar advanced for the third day in a row, rising against all of its developed market peers.
Source: Ambito
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