US markets close higher on positives in debt limit negotiations - ZENMoney

In US markets, Major indices closed higher on signs of progress in negotiations to raise the US debt limit just a week before a deadline. President Barack Obama and congressional leaders are set to meet Thursday for further discussions. Claims for US jobless benefits jumped last week to the highest level in six months, providing the first statistical warning that the damage from the partial federal shutdown is starting to ripple through the economy.

On the European front, the British Bench mark rallied due to overnight rebound in US market and rise in banks amid signs that US lawmakers may agree on a compromise deal to avoid a sovereign-debt default. Governor Mark Carney has said that the Bank of England won't consider raising its benchmark rate at least until unemployment falls to 7%, which it forecasts may not happen until late 2016.

Nikkei opened on a gapup note during morning session due to overnight rally in the US markets as lawmakers said that talks on raising the nation's debt limit to avoid a default will continue. A weakening Yen against US dollar continued to support the rise in the indices further.

Source : Equity Bulls

Keywords