Debt ceiling concerns impact stock market.
TL;DR Summary
US stocks were mixed on Tuesday as investors await the outcome of the debt ceiling deal, which faces a crucial test in the House Rules Committee before an expected vote in the House on Wednesday. The yield on the benchmark 10-year Treasury dropped to 3.7%, while the two-year note yield slipped to 4.49% and that on the 30-year bond dropped to 3.89%. The major economic release of the week will be the US jobs report for May due out on Friday. Meanwhile, shares of Nvidia Corporation rallied over 5%, hitting a $1tn market cap at the open Tuesday after CEO Jensen Huang unveiled a host of new AI-related products and services the previous day.
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