Morning Business Report: There is a new debt ceiling agreement, now lawmakers must decide if they support it
A deal proposed to lift the federal debt limit would have only a small cooling effect on the U.S. economy and high inflation, according to economists. It does little to reduce government spending that grew rapidly during the Covid-19 pandemic and its aftermath. There’s one particular component of the deal that could ding the economy this fall. Student loan repayments and interest accrual will restart by the end of August.
The Denver Nuggets are in the NBA finals for the first time in franchise history. The Denver Nuggets will face off with the Miami Meat for the NBA championship. The lowest price Jane King could find for a ticket to the 2023 NBA Finals at Miami’s Kaseya Center was $449. That’s before fees on VividSeats. Prices start at $569 before fees for games at Denver’s Ball Arena.
Stocks traded mixed on Tuesday as investors await completion of the debt ceiling deal.
The U.S. Treasury has indicated that it could run out of money by June 5. The clock is ticking.
The company once known as Chrysler is now called Stellantis. The rebrand may be costing Stellantis money. Barron’s, a financial magazine, says that the stock would go up if the company returned to the name Chrysler. Although Stellantis is growing, GM and Ford currently trade at a higher premium.
A survey of 2,000 U.S. adults found that people are psyched for summer. Many say they are ‘very’ or ‘extremely’ excited about the change of season. The poll found that people get so excited for summer, they begin switching to warm weather clothes as early as April. Clothes aren’t the only thing people have been looking forward to. Food is a big part of enjoying your summer too. Half of those surveyed agree that, of all the seasons, summer has the best food. They even favor fresh fruit, cold drinks, and barbeque over foods, like apple pie, soups, and hot chocolate. The poll was conducted by Chinet and OnePoll.