Wall Street mixed, European stocks flat as US debt ceiling talks progress
Timilehin Adejumobi
1 min read
Wall Street shares were mixed and European stocks finished little-changed as talks in Washington resumed to avert a U.S. default, while gold prices retreated under pressure from hawkish remarks by Federal Reserve officials.
Oil prices finished higher on demand optimism. U.S. treasury yields rose.
House Republican Speaker Kevin McCarthy said Monday morning’s debt talks were “on the right path” ahead of a meeting with U.S. President Joe Biden. June 1 remains a “hard deadline” after which Treasury expects the federal government will struggle to pay its debts, a stance the agency reiterated on Monday.
A failure to lift the debt ceiling would trigger a default, likely sparking chaos in financial markets and a spike in interest rates.
The MSCI world equity index, which tracks shares in 49 nations, gained 0.19%.
The S&P 500 edged up 0.02% to end the session at 4,192.63 points and the Nasdaq gained 0.50% to 12,720.78 points, buoyed by technology sector gains. The Dow Jones Industrial Average declined 0.42% to 33,286.58 points.
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