Wall Street rises as debt ceiling, inflation worries cool

Published by
Reuters

By Shreyashi Sanyal (Reuters) – U.S. stocks rose on Thursday after a temporary truce in the debt-ceiling standoff in Congress relieved concerns of a possible government debt default, while a dip in oil prices eased worries of higher inflation. Top U.S. Senate Republican Mitch McConnell on Wednesday floated a plan to support an extension of the federal debt ceiling into December, potentially heading off a historic default. Congressional Democrats and Republicans were expected to continue negotiating on Thursday. “I didn’t think there is actually going to be a default, it is a low probability, h…

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