Markets lacked conviction, while the debate over the U.S. debt ceiling remained roiled by passionate intensity.
reiterated Treasury Secretary Janet Yellen's warning that the United States could hit the debt ceiling in early June., Ryan Hass, a China expert at the Brookings Institution, told CNBC. A "win" would see China assuming the role of as a superpower with diplomatic strength, said Cheng Chen, professor of political science at the University at Albany, SUNY.Bitcoin lost 11.25% last week, hitting a 2-month low of $25,843.
U.S. stocks barely budged Friday. The Dow Jones Industrial Average remained flat, the S&P 500 slid 0.16% and the Nasdaq Composite lost 0.35%. On a weekly basis, the Dow lost 1.1%, the S&P 500 dropped 0.3%, while the Nasdaq rose 0.4%. But overall, "none of the sectors are making convincing moves in either direction, reflecting a general lack of conviction in the market," said Joe Cusick, portfolio specialist and senior vice president at Calamos Investments.
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