Wall Street remains crouched awaiting news on the debt ceiling in the US

Wall Street remains crouched awaiting news on the debt ceiling in the US

The S&P 500 and Nasdaq Composite indices rose moderately, while the Dow Jones lost 0.4%.


The main indices of Wall Street remain crouched this Monday May 22 while markets await news on a new round of talks to raise the US debt ceilingin a session in which Micron shares fell after the Chinese ban on its memory chips.

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Meanwhile, the Industrial Average Dow Jones it gave up 143.21 points, or 0.4%, to 33,283.42 units; the index S&P 500 rises 2.77 points to 4,192.49 units; and the Nasdaq Composite it was up 51.24 points, or 0.4%, at 12,708.10.

The president of United States, Joe Bidenand the Republican leader of the House of Representatives, kevin mccarthy, They will meet on Monday after their talks nearly fell apart on Friday.. The appointment comes less than two weeks from a deadline after which the Treasury warned that the federal government will have difficulty paying its debts.

A default would cause chaos in the financial markets and send interest rates skyrocketing.

“Everyone is watching this meeting between Kevin McCarthy and Joe Biden, waiting for some kind of signal when it comes to the debt ceiling”said Robert Pavlik of Dakota Wealth.

In a move seen as escalating trade tensions between Beijing and Washington, China has banned the chipmaker. Micron Technology Inc. sell memory chips to key national industries, sending its shares down 4.5%. The index of Philadelphia SE Semiconductors down 0.4% and apple inc subtracts 0.4% after Capital Loop downgrade the iPhone maker’s stock to “hold” from “buy.” This is its first reduction in five months, according to Refinitiv data.

Source: Ambito

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