Wall Street to pause to honor fallen fallen loved ones

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Wall Street to pause to honor fallen fallen loved ones

On Monday, Wall Street will pause to honor and commemorate those who died in military service.

There will be no as the U.S. equity markets are closed.

The U.S. bond market will also take the day off, meaning no trading in Treasuries.

The London Stock Exchange will also be closed Monday for a bank holiday.

The futures market will respond to the weekend news that Democrats and Republicans reached a tentative agreement in principle on the nation's debt ceiling, averting a potential U.S. default.

The abbreviated schedule will be operated as follows:

President Biden and House Speaker Kevin McCarthy, R-Calif., reached the debt ceiling agreement by phone on Saturday evening.

A source familiar with the talks told FOX News that the agreement includes a two-year debt limit increase. The policy sets spending flat for 2024 and limits for 2025.

When factoring in agreed-upon appropriations adjustments, non-defense spending will be roughly flat with current FY 2023 levels in 2024.

The changes to SNAP reduce work requirements for veterans, people who are homeless, and others, while increasing the age for work requirements from 49 to 54.

The week ended in solidary gains, boosted by tech stocks.

After a weeks of anxiety about high inflation, the danger of a debt default and generally weak corporate earnings, the higher finish came after a week of uncertainty over high inflation.

The S&P 500 rose 54.17 points, or 1.3%, to 4,205. The index finished the week with a gain of 0.3%.

The Dow Jones ended the week with a drop of 328.69 points, or 1%, but it finished with a loss of 1%.

The tech-heavy Nasdaq stock notched its biggest gains, rising 277.59 points, or 2.2%, to 12,975. For the week, the index rose 2.5% despite AI becoming a major focus for investors.

Marvell Technology surged 32.4% after the chipmaker said it expects AI revenue in fiscal year 2024 to at least double from the previous year.

Then Thursday, Nvidia released a report from fellow chip maker Nvidia that gave a big forecast for upcoming sales related to AI.

Investors are looking forward to another busy week of economic news, including more data on consumer confidence and employment.