[ad_1]
Debt-Ceiling Deal Reached Between Biden and House Republicans
The debt-ceiling deal between President Joe Biden and House Republicans has been confirmed, and a two-year debt-limit increase has been outlined. This will help the U.S. avoid a looming sovereign default. The deal, however, still needs to be voted on, with the House set to vote first on Wednesday, followed by the Senate.
Impact on the Stock Market Rally
Despite the mixed weekly action last week, the stock market rally ended on a hopeful note, propelled by Nvidia’s surge and signs of progress on the debt-ceiling deal. With several fiscal drags still looming for the economy, it remains to be seen how markets will react to the debt-limit resolution.
Stocks to Watch
Tesla, Netflix, Arista Networks, On Semiconductor, NetEase, Mobileye, Smartsheet, Aehr Test Systems, and McKesson are all currently trading near buy points. ANET, Netflix, On Semiconductor, NetEase, and Mobileye all gave buy signals on Friday. Nvidia is on IBD Leaderboard, while MBLY and Smartsheet are on IBD 50.
Dow Jones Futures
Dow Jones futures, S&P 500 futures, and Nasdaq futures will open Sunday evening. It is expected that Dow Jones futures will open modestly higher, but it remains to be seen if this will translate into actual trading during regular stock market sessions.
FAQ
What is the debt-ceiling deal between President Joe Biden and House Republicans?
The debt-ceiling deal is a tentative agreement that includes a two-year debt-limit increase and will keep non-defense, non-veterans discretionary spending about flat with current levels over two years.
What impact will the debt-ceiling deal have on the stock market rally?
It remains to be seen how markets will react to the debt-limit resolution, given the mixed weekly action last week and several fiscal drags still looming for the economy.
Which stocks should investors watch?
Tesla, Netflix, Arista Networks, On Semiconductor, NetEase, Mobileye, Smartsheet, Aehr Test Systems, and McKesson are all currently trading near buy points. ANET, Netflix, On Semiconductor, NetEase, and Mobileye all gave buy signals on Friday.
When will the debt-ceiling deal be voted on?
The House is set to vote on Wednesday, followed by the Senate soon after.
[ad_2]
For more information, please refer this link