Despite the resolution of the debt ceiling standoff allowing the U.S. government to meet its obligations, Fitch Ratings has chosen to maintain its "Rating Watch Negative" stance on the U.S.
The latest U.S. labor market report showed a remarkable rise in nonfarm payrolls in May, with a surprising gain of 339,000, marking the strongest pace of employment growth since January 2023.
The U.S. labor market is hot and continues to show tight conditions, posing a difficult dilemma for the Federal Reserve regarding whether to raise interest rates further or hit the pause button.
U.S. stocks look set to extend their gains on Friday, as the budget bill cleared the Senate by a margin of 63-36 votes, paving the way for its enactment. With the debt limit impasse now behind, investors' focus shifted to the June Federal Reserve rate decision.