Biden, McCarthy Close in on Deal as Default Looms, Markets Wait
- Negotiators are nearing an agreement to raise the debt ceiling before the June 1 deadline.
- European and Asian markets mostly rose on optimism for a deal, but traders remain cautious.
- Nvidia's strong guidance fueled a tech rally on Wall Street, boosting the Nasdaq and S&P 500.
- The dollar strengthened against major currencies on expectations of further rate hikes from the Federal Reserve.
- Germany confirmed its economy contracted in Q1, entering a technical recession.
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