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US jobs data and debt bill lift global stocks

June 3, 2023
Source: irishtimes.com irishtimes.com
News Snapshot:
The US Capitol in Washington, DC on Friday. The Senate passed legislation to suspend the US debt ceiling and impose restraints on government spending, ending a drama that threatened a global financial crisis. Photograph: Nathan Howard/Bloomberg Continuing on from Thursday’s rally, global stocks gained ground on Friday, buoyed by the US Congress’s passage of a bill to raise the country’s debt. Investors also increased bets that the US Federal Reserve will skip raising interest rates this month after the latest US employment data release. The closely watched statistics revealed that the US unemployment rate hit 3.7 per cent in May...
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