- Stocks increased as investors gained hope in Richemont, the company that makes Cartier, and hints that US politicians are moving closer to a compromise to extend the debt ceiling.
- Richemont increased 7.8% to a record high, igniting a widespread uptrend in European luxury equities. After President Joe Biden and House Speaker Kevin McCarthy postponed their scheduled debt ceiling discussion for Friday, S&P 500 futures rose. According to those who are aware with the conversations, the delay is a result of progress in staff-level discussions.
- This week, stock markets throughout the world have fluctuated due to conflicting US economic statistics and continued concerns about the debt ceiling. Despite the fact that tech companies have continued to thrive, with the Nasdaq 100 Index up 1% so far this week, there is still a lot of doubt around the sector.
- Michael Hartnett and his team of Bank of America strategists claimed in a report published on Friday that a recession will "crack credit and tech" just like it did in 2008.
- ECB's Nagel: The latest interest rate hike won't be the last.
- US Treasury Secretary Yellen: I would like to stay until the end of President Biden's first term.
