Global benchmarks were mostly higher Thursday after the United States House of Representatives approved a debt ceiling and budget cuts package, avoiding a default crisis.
FILE - An NYSE sign is seen on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. Futures for the Dow Jones industrials are flat before the bell and the S&P 500 rose 0.2%.pleased few, but lawmakers assessed it was better than the alternative,a global economic upheaval. Hard-right Republicans rejected the deal, but President Joe Biden and House Speaker Kevin McCarthy assembled a bipartisan coalition to push to passage on a robust 314-117 vote late Wednesday.
The Fed has been trying to beat down persistently high inflation by raising interest rates in an effort to cool the economy and labor market. There have been some signs it has worked, but not to the extent Fed officials had hoped.slashed expectations for the year JP Morgan cut its rating on Target to neutral Thursday citing a broader weakening in the consumer sector. Target shares, down 17% over the past month, fell close to 2% in premarket trading., though prices are still squeezing shoppers who are yet to see real relief in what they pay for food and other necessities.In Asia, investor enthusiasm was muted byafter disappointing recent data on a recovery in the world's second largest economy, and a key driver of regional growth.
In energy trading, benchmark U.S. crude lost 37 cents to $67.72 a barrel. Brent crude, the international standard, also fell 37 cents, to $72.23 a barrel.
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