Today’s Stock Exchanges, May 26th. Markets hanging on US debt. Possible agreement with cost cutting
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MILAN – The markets remain hanging on the outcome of the negotiations between the Republicans and the White House on raising the al US debt ceilingwithout which a sensational default could be triggered: for the Treasury led by Janet Yellen the fateful date is the beginning of June. The parties report both the New York Times That Bloomberg, however, they would have come close to an agreement. It would involve raising the debt ceiling and at the same time curbing public spending for two years. The amount of the new ceiling has yet to be defined, while there would be general indications on the budget: Biden would bring home the funds to improve the electricity grid on a national basis, defend a large part of welfare spending, raise the Defense spending at 3%. The Republicans would boast the cut in federal spending with the exception, of course, of the military and veterans. Uncertain front of Medicaid, health care.
China to the US: “Worried about chip policies”
China “expressed major concerns over US economic and trade policy” to Beijing amid semiconductors, export controls and foreign investment review. This is what Chinese Commerce Minister Wang Wentao said, meeting the US Commerce Secretary Gina Raimondo in Washington, on the sidelines of his trip to the US to participate in the APEC ministerial meeting in Detroit, according to a statement released by the Ministry of Beijing trade.
Hong Kong Stock Exchange closed
Hong Kong’s financial markets are closed for public holidays.
Oil prices firm after sharp drops
Crude oil prices firm in today’s trading after the sharp fall of more than 3% recorded yesterday. The future on the Wti is traded at 71.73 dollars a barrel, with a -0.14%, Brent yields 0.31% to 76.02 dollars. Looking forward to next week’s OPEC+ meeting.
Progress on debt, but Wall Street is cautious
Negative futures on US stock indexes in today’s trading. The Dow Jones marks a drop of 0.12%, the S&P 500 loses 0.20%, Nasdaq -0.16%. The news of the last few hours refers to progress in the negotiations on the US debt ceiling.
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