NEW YORK, Oct 7 ― Wall Street ended higher yesterday as investors grew more optimistic that congressional Democrats and Republicans could reach a deal to avert a government debt default.
McConnell's offer could provide an off-ramp to a months-long standoff between President Joe Biden's Democrats and McConnell's Republicans, who had been expected yesterday to block a third attempt by Senate Democrats to raise the US$28.4 trillion debt ceiling. The ADP National Employment Report showed private payrolls increased by 568,000 jobs last month. Economists polled by Reuters had forecast a rise of 428,000 jobs.
Oil prices hit multi-year highs early, but crude prices retreated from those highs while the S&P 500 energy sector index slid over 1 per cent, the weakest performer among 11 sector indexes.
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