AgenciesNew York, Oct 7– Wall Street ended higher Wednesday as investors grew more optimistic on congressional Democrats and Republicans could reach a deal to avert a government debt default.Top U.S. Senate Republican Mitch McConnell said his party would support an extension of the federal debt ceiling into December. This would head off a historic default that would exact a heavy economic toll.“McConnell made some dovish comments about temporarily extending the debt ceiling,” said Jay Hatfield, founder and portfolio manager at Infrastructure Capital Advisors. “That’s going to be interpreted in the short-run as positive.”McConnell’s offer could provide an off-ramp to a months-long standoff between President Joe Biden’s Democ...
October 7, 2021 at 11:52 am | Economic Affairs