With a debt ceiling deal freshly signed into law Saturday (June 3) by President Joe Biden, the US Treasury is about to unleash a tsunami of new bonds to quickly refill its coffers.

Trillion-dollar Treasury vacuum coming for Wall Street rally

US stocks closed higher on Friday (June 2) after a labour market report showing moderating wage growth in May indicated the Federal Reserve may skip a rate hike in two weeks, while investors welcomed a Washington deal that avoided a catastrophic debt default.

Wall Street ends up on jobs data, debt default averted

US stock indexes rose on Friday after jobs data showed a moderation in wage growth, boosting bets that the Federal Reserve will skip hiking rates this month, while investors cheered the country averting a catastrophic debt default.

The tech-heavy Nasdaq index touched its highest intraday level in over 13 months and headed for its sixth straight week of gains, its best streak since January 2020.

Wall St rises after jobs data; debt default averted

Shares of Verizon Communications Inc, AT&T Inc and T-Mobile US Inc declined on Friday after a report said Amazon.com Inc was in talks with the US telecom firms to offer low-cost wireless services to its Prime members.

Bloomberg News reported that Amazon was negotiating to get the lowest possible wholesale prices and could offer wireless plans for US$10 a month or lower to Prime members through these partnerships.

US telecom stocks fall on report Amazon in talks for wireless services

Technology equity funds saw their biggest weekly inflows on record in the week to Wednesday, driven by a surge in investor interest in artificial intelligence, according to BofA Global Research released on Friday (June 2).

Tech shares see biggest ever weekly inflow on AI boom — BofA

The Nasdaq and S&P 500 surged to nine-month closing highs on Thursday (June 1) as signs of slowing wage pressure raised hopes the US Federal Reserve (Fed) will pause hiking interest rates and investors cheered a vote in Congress to suspend the US debt ceiling.

Wall Street rises on hopes of Fed pausing hikes, debt ceiling deal cheer

US stock indexes rose by midday trading on Thursday as investors cheered passage of a bill by lawmakers to suspend the nation's debt ceiling amid bets that the Federal Reserve will skip raising interest rates in its next meeting.

Investors also looked on economic indicators, including the ADP National Employment Report that showed more-than-expected jobs additions in May, while a separate reading said weekly jobless claims increased modestly, both suggesting the labour market's resilience.

Wall St rises on debt ceiling deal cheer, hopes of Fed pause

US stocks closed down on Wednesday (May 31) as a deal to raise the federal debt ceiling headed for a crucial vote in Congress, while unexpectedly strong labour market data rattled investors who fear the US Federal Reserve (Fed) might hike interest rates again in June.

Wall St falls as labour data spurs rate hike jitters before debt ceiling vote

US stock indexes fell on Wednesday as a deal to raise the nation's debt ceiling headed for a crucial vote by lawmakers, while unexpectedlystrong labor market data reinforced bets of another interest rate hike by the Federal Reserve.

A bill to lift the US$31.4 trillion US debt ceiling and achieve new federal spending cuts made its way to the House of Representatives for debate on Tuesday and an expected vote on passage is due later in the evening.

Wall St falls on Fed hike jitters ahead of debt ceiling vote

Stocks on Wall Street closed mixed on Tuesday (May 30), pressured by worries about US lawmakers opposed to a deal to raise the US$31.4 trillion (RM144.97 trillion) debt ceiling, but supported by another surge in Nvidia shares that briefly lifted the chipmaker into the rare club of companies valued at US$1 trillion.

Shares close mixed, Nvidia's 3% rise offsets debt ceiling jitters

The Nasdaq led gains among Wall Street's main indexes on Tuesday (May 30), boosted by shares of Nvidia, amid optimism about lawmakers tentatively agreeing to raise the nation's debt limit to avert a default.

Nasdaq boosted by Nvidia, tentative debt deal cheer

Wall Street's main indexes rose on Friday over progress in negotiations on raising the US debt ceiling, with investors shrugging off data pointing to slightly hotter-than-expected inflation.

After several rounds of talks, President Joe Biden and top congressional Republican Kevin McCarthy were closing in on a deal to increase the government's US$31.4 trillion debt limit for two years, while capping spending on most items, a US official told Reuters.

Wall Street jumps on hopes of debt deal breakthrough

Anxiety is increasing in parts of Wall Street that rely on Treasury securities to function, with some traders starting to avoid US government debt that comes due in June and others preparing to deal with securities at risk of default.

Wall Street prepares for Treasuries mess as default looms

Wall Street ended sharply higher on Thursday after a blowout forecast from Nvidia sent the chipmaker's stock soaring and fueled a rally in AI-related companies, while investors watched for signs of progress in US debt ceiling talks.

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