The major US stock indices have gotten off to a positive start this week. The Dow industrial average snapped a 5-day slide with a modest gain. The NASDAQ index leads the way.
The final numbers for the 3 major indices are showing:
- Dow industrial average rose 47.90 points or 0.14% at 33348.61
- S&P index rose 12.20.00.30 percent at 4136.27.
- NASDAQ index was 80.46 points or 0.65% at 12365.20
The Russell 2000 of small-cap stocks faired the best:
- Russell 2000 rose 20.69 points or 1.19% at 1761.54
Hopes for a resolution to the debt ceiling helped the upside although progress is still elusive. Nevertheless Pres. Biden still plans on leaving town on Wednesday for Japan. He is expected to be gone for a week. His itinerary includes the G-7 meeting in Hiroshima, Japan, a visit to Papua New Guinea, and the Quad Leaders’ Summit in Sydney. Speaker Kevin McCarthy emphasized the need for an agreement by the weekend to allow sufficient time for its passage. As of now, no signs of progress towards an agreement have been indicated.
The markets have been down this road so it has the "courage of 1000 matadors", but you never know. For the first day of the week as the clock towards the June 1 expected drop-dead date, so far, so good.
