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Kredens Capital Kredens Capital

The major U.S benchmarks had a positive week

The major U.S. benchmarks had a positive week, with the S&P 500 reaching its highest level since August 2022 and the Nasdaq Composite hitting its best level since April 2022. Rebounding job openings and better-than-expected nonfarm payrolls drew investors' attention.

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Kredens Capital Kredens Capital

A compromise to avoid a potential debt default has been reached

President Joe Biden reached a compromise with the republican house to avoid a potential default on US debt. The deal has drawn criticism from some Democrats who feel that he made too many concessions. The agreement includes an increase in the borrowing limit and spending restrictions. Economists predict a reduction in employment by 120,000 in late 2024 as a result.

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Kredens Capital Kredens Capital

US economic data in line with expectations

Last week, the US, UK and Europe markets closed high on Friday. Stocks experienced solid gains for the week due to positive sentiments driven by a positive tone in debt ceiling negotiations, with President Biden expressing confidence in avoiding a default.

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Kredens Capital Kredens Capital

ECB hints at more rate increases

Last week, the US and Asian markets closed mixed on Friday. Gains were driven by strong earnings from a number of companies but were offset by concerns about the war in Ukraine, rising inflation and a credit default by the US Government.

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