Investing.com -- U.S. shares were blended as investors awaited clarity on the consequence of debt ceiling negotiations.
At 11:50 ET (15:50 GMT), the Dow Jones Industrial Average used to be down 89 ingredients or 0.3%, while the S&P 500 used to be up 0.1% and the NASDAQ Composite used to be up 0.4%
President Joe Biden used to be anticipated to meet with Dwelling Speaker Kevin McCarthy, a California Republican, later on the present time as aides spent the weekend attempting to sew up an settlement. The closing date for Congress to rob the ceiling or suspend it's like a flash coming near near, with some estimates pronouncing the authorities will trudge out of alternate choices to continue paying its tasks as early as June 1.
Economists and administration officers salvage mentioned a default may maybe perchance well invent chaos in financial markets.
A default would trigger chaos in financial markets and spike interest charges.
The uncertainty is placing over markets as the Federal Reserve prepares to meet all over again subsequent month to achieve to a call the subsequent switch on interest charges. Three-quarters of futures merchants query the Fed to withhold charges fashioned in June, a discontinuance so policymakers can assess the progress of their actions up to now.
St. Louis Fed President James Bullard mentioned he foresees two extra payment increases this 300 and sixty five days, while his counterpart on the Minneapolis Fed, Neel Kashkari, expressed make stronger for a discontinuance in June.
The Fed will examine a key recordsdata point on Friday in the interior most consumption and expenditure index for April, an inflation gauge it closely screens.
Biden returned to the U.S. on Sunday, cutting short an Asia day out after the Neighborhood of Seven assembly of world leaders to present the negotiations on the debt ceiling deal.
On Sunday, China banned some sales of Micron Expertise, Inc. (NASDAQ:MU) chips to key industries in its country, citing nationwide security. Shares of Micron fell 2.6%.
Shares of Facebook parent Meta Platforms, Inc. (NASDAQ:META) rose 1.8% after European Union privacy regulators fined it $1.3 billion for sending person knowledge to the U.S.