June 10, 2023

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Wall Street: Slight rise in futures. US debt ceiling: rumor about Biden meeting with congressional leader

US futures were slightly higher: at around 7.10 am Italian time, Dow futures were up 0.12%, S&P 500 futures were up 0.22% while Nasdaq futures were up 0.31%.

Yesterday’s session was negative on Wall Street, with the Dow Jones Industrial Average down more than 200 points, or 0.66%. The list in particular has been sunk by the sell-off that hit Disney’s title after the quarterly issue was released.

Investor sentiment worsened as selling returned in US regional bank stocks after PacWest announced a decline in deposits.

The S&P 500 lost 0.17%, while the Nasdaq Composite gained 0.18%.

The Dow Jones and S&P 500 are set to end their second straight week of declines, down 1.08% and 0.14%, respectively.

The Nasdaq Composite is on track to end its third consecutive week of gains, up 0.76% this week.

Fear associated with the fact that the US Congress has yet to reach an agreement to raise the US debt ceiling is weighing on investor sentiment.

Among other things, according to some rumors reported by CNBC, a meeting between US President Joe Biden and congressional leaders, aimed at breaking the deadlock and scheduled for today, would have been postponed until next week.

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