12/7/2021, 10:01 PM (Source: TeleTrader)
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US closes higher following debt ceiling deal

Major stock markets in the United States closed higher on Tuesday after Senate Minority Leader Mitch McConnell confirmed the upper house has reached a deal on the debt ceiling. Earlier, Treasury Secretary Janet Yellen projected the country's inflation will ease if the COVID-19 pandemic is kept under control. Traders are now expecting the nation's latest update on stocks of crude oil.

The Dow Jones Industrial Average traded 1.42% or 501 points higher on the close as American Express Co. increased by 3.90%. The Nasdaq 100 rose by 3.03% or 479 points, with Pinduoduo Inc. rocketing by 12.53%. The S&P 500 grew by 2.09% as Fortinet Inc. surged by 8.63%.

The euro lost 0.14% to the dollar to sell for $1.12666 at 3:57 pm ET.

Baha Breaking News (BBN) / JR