Debt ceiling optimism turned the market
The GOP offer of a two-month debt ceiling extension — even if it’s not accepted — is a strong signal that the US isn’t going to default. Despite all the talk and games, US politicians aren’t going to let the banking system crumble because of some stupid political games. They’re great at getting the market to fret though.
- S&P 500 +20 points to 4365 (+0.5%)
- Nasdaq +0.5%
- DJIA +0.3%
We’ve really carved out a range over the past week.