Wall Street closes higher on optimism about the US debt ceiling

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Wall Street closed higher on Wednesday as investors grew optimistic that Democrats and Republicans in the US Congress could reach a deal to avoid a government debt default.

Senator Mitch McConnell, the Republican leader in the Senate, said his party would support extending the federal debt ceiling to December. This would avoid a historical default that would have severe economic damage.

The pointer is finished Dow Jones Industrial trading session, up 0.3 percent to 34417.98 points, while the benchmark Standard & Poor’s 500 index rose 0.41 percent to close at 4,363.55 points.

 

The Nasdaq Composite Index closed up 0.47 percent to 14,501.91 points.

The market is awaiting the US non-farm payrolls data, which is scheduled for release on Friday. It is expected to strengthen the view that the Federal Reserve (the US central bank) will slow its program of asset purchases.

Source: Reuters

The article Wall Street closed higher on optimism about the US debt ceiling was written in Al Borsa newspaper.