Key Points
NEW YORK: All three major US stock indexes closed the day higher Friday amid optimism that a deal to avert a potentially catastrophic US debt default was close at hand...
Democrats and Republicans inched towards a deal Friday, with just days to go before the treasury department warned the United States could run out of money to pay all of its existing spending obligations...
The broad-based S&P 500 rose 1.3 percent to 4,205.45, while the Dow Jones Industrial Average posted a more modest 1.0 percent gain to finish the week at 33,093.34...
"Based on the most recent available data, we now estimate that Treasury will have insufficient resources to satisfy the government's obligations if Congress has not raised or suspended the debt limit by June 5," she wrote in a letter to the Republican Speaker of the House, Kevin McCarthy..
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