Wall Street leans higher as the week opens up

Economies.com
2023-06-05 14:38PM UTC

US stock indices mostly rose on Monday as investors assess latest developments in monetary policies.

 

Allianz chieft economist Muhammad Al-Aryan said that while concerns about a US debt default have subsided, markets now are looking forward to the Fed's efforts to contain inflation.

 

Despite risks surrounding high interest rates in the last 15 months, the tech sector was particularly brilliant amid the AI industry boom. 

 

It's worth mentioning that Congress recently approved a bill raising the US debt ceiling until January 2025.

 

However, Fitch Ratings maintained US government debt under negative review amid uncertainty about the gaps in US financing and debt.

 

On trading, Dow Jones fell 0.2%, or 84 points to 33,687 as of 15:36 GMT, while S&P 500 added 0.1%, or 3 points to 4,286, as NASDAQ climbed 0.2%, or 20 points to 13,260. 

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