, while investors cheered the country averting a catastrophic debt default.
The tech-heavy Nasdaq index touched its highest intraday level in over 13 months and headed for its sixth straight week of gains, its best streak since January 2020.against a forecast of 3.5%, while average hourly earnings were at 0.3%, down from 0.4% in April, highlighting a cooling in wage inflation.“This is a reflection of a labor market that, while still robust, is softening gently, not rapidly.
Fed funds futures trading showed an over 70% probability that the Fed will hold interest rates steady at its June 13-14 policy meeting. late on Thursday to lift the government’s $31.4 trillion debt ceiling, avoiding a catastrophic, first-ever default.
Source: Loan Digest (loandigest.net)
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