US stocks close higher with optimism over debt ceiling bill

Despite a lower opening, major US stock exchanges closed Thursday higher with investors' optimism over the debt ceiling bill. The blue-chip Dow Jones was up 153 points, or 0.47%, to finish at 33,061. The S and P 500 rose 41 points, or 0.99%, to 4,221. The tech-heavy Nasdaq jumped 165 points, or 1.28%, to end the session almost at 13,101. The debt ceiling bill aims to suspend the $31.4 trillion cap on the federal government's borrowing limit through January 2025. After clearing the House of Representatives with a 314-117 vote late Wednesday, the bill is heading to the Senate floor before President Joe Biden signs it into law. The VIX volatility index, also known as the fear index, plummeted 12.1% to 15.76. The 10-year US Treasury yield, meanwhile, fell 0.9% to 3.606%. The dollar index was down 0.7% to 103.58, while the euro increased 0.7% to $1.0762 against the greenback. Precious metals were in positive territory, with gold adding 0.8% to $1,978 per ounce and silver rising 1.6% to $23.89. Oil prices gained more than 2.2%, with global benchmark Brent crude at $74.22 per barrel and US benchmark West Texas Intermediate at $70.05.

Source: Anadolu Agency