US stocks jumped Wednesday as lawmakers made progress on debt ceiling negotiations. President Biden and members of Congress are getting closer on a deal after weeks of deadlock. AdvertisementUS stocks jumped on Wednesday as investors grew optimistic that a deal over the debt ceiling could soon be in sight. "I'm confident we'll get the agreement on the budget, that America will not default on its debt," Biden said on Wednesday morning. While an actual default was widely thought to be unlikely, the possibility of such a scenario has weighed on markets in recent weeks.

Source: Economic Times May 18, 2023 09:36 UTC