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U.S. Market Closed Higher As Debt Limit Deal Reached, European stocks Up

Thursday, 7 October 2021 -

The government default risk was averted on Thursday as the Senate reached a debt limit deal, sending the major U.S. indices higher.

The debt ceiling will be extended through early December according to Senate Majority Leader Chuck Schumer, whose statement came after Senate Minority Leader Mitch McConnell offered Democrats a short-term debt limit extension to cover current spending late Wednesday.

At the same time, energy prices fell from recent highs, easing some concerns over a global energy crisis.

Dow Jones: +0.98%

S&P 500: +0.83%

Nasdaq: +1.05%

The dollar index was down 0.07% to 94.20 but the yield on 10-year US Treasury notes was up 3.4 to 1.576%.

International benchmark Brent crude was trading at $82.42 per barrel with a 1.6% gain and US benchmark West Texas Intermediate was at $78.81 -- a 1.8% increase.

Precious metals turned negative with gold falling 0.34% to $1,756 per ounce and silver fell 0.1% to $22.6.

Bitcoin was trading at $54,200 down 1.7%

European stocks closed higher Thursday, recovering from the previous day's losses.

STOXX Europe 600: +1.6%

FTSE 100: +1.17%

DAX: +1.85%

CAC: +1.65%

FTSE MIB: +1.51%

IBEX 35: +2.14%

(Written and edited by: The Decision Maker)


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