![]() As is, the window for negotiations is narrowing by the day, with less than 10 days to go for Jun 1, the date cited by the treasury as the day the government would default. Market participants remained worried that any breakdown in talks would almost certainly push the country toward a debt default and the economy into an inevitable recession. On Monday, all eyes were set on President Biden and Republican House Speaker Kevin McCarthy, who were supposed to discuss and negotiate on the debt ceiling issue. Biden and McCarthy Meet to Discuss Debt Ceiling On the Nasdaq, a 1.74-to-1 ratio favored advancing issues. Advancers outnumbered decliners on the NYSE by a 1.54-to-1 ratio. A total of 9.6 billion shares were traded on Monday, lower than the last 20-session average of 10.6 billion. ![]() The fear-gauge CBOE Volatility Index (VIX) was up 2.4% at 17.21. The tech-heavy Nasdaq advanced 62.88 points, or 0.5%, to finish at 12,720.78. The Communication Services Select Sector SPDR (XLC), the Real Estate Select Sector SPDR (XLRE) and the Technology Select Sector SPDR (XLK) gained 0.9%, 0.7% and 0.2%, respectively, while the Consumer Staples Select Sector SPDR (XLP) lost 1.5%. Six of the 11 broad sectors of the benchmark index ended in positive territory. The S&P 500 remained virtually flat at 4,192.63. Twenty-one components of the 30-stock index ended in negative territory, while nine ended in positive. The Dow Jones Industrial Average (DJI) fell 0.4% or 140.05 points to close at 33,286.58. One of the major indexes ended in the red, one in green, while the other remained virtually flat. A resolution to the deadlock was eagerly anticipated as President Biden and House Speaker Kevin McCarthy were scheduled to meet on the day. ![]() Wall Street ended mixed on Monday as investors traded cautiously, keeping an eye on the debt ceiling negotiations. ![]()
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