US Stocks closed lower due to the debt ceiling disputes
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| US Stocks |
US indices ended the trading session on Friday, May 19th, in decline, after a temporary halt to the debt ceiling talks between Republicans and Democrats, but recorded weekly gains.
America is approaching a possible debt default, amid warnings from the US Treasury Department of the possibility of exhausting exceptional measures to pay off debts early next month.
However, a White House official stated that if the two sides negotiated in good faith and realized that they would not get everything they wanted, an agreement could still be reached.
At the end of the session, the Dow Jones index fell 0.3%, to 33,426 points. The S & P 500 declined by 0.14%, recording 4,191 points, rising 1.65% over the course of the week, in the highest weekly since March, while the Nasdaq index closed down 0.24%, recording 12,657 points.
Fed Appeals Chairman Jerome Powell made comments today on trade relations.
Federal Reserve Chairman Jerome Powell made comments today about the future path of the interest rate, saying that the turmoil in the banking sector may mean that interest rates do not need to rise much to achieve policy objectives.