Taking steps to speed up passage of debt limit increase

US Senate Democratic Leader Chuck Schumer said on Thursday that they are taking steps to speed up the passage of the debt limit increase, as reported by Reuters.

Market reaction

Risk flows continue to dominate the financial markets as investors remain hopeful about lawmakers finding a temporary solution to avoid a default.

As of writing, the S&P 500 Index was up 1.35% on the day at 4,422, while the Dow Jones Industrial Average and the Nasdaq Composite were gaining 1.45% and 1.6%, respectively.