The stock market is feeling the pressure of the looming debt ceiling deadline as negotiations continue. The Dow Jones Industrial Average, S&P 500, and NASDAQ Composite all fell as investors wait for a resolution. President Joe Biden and House Speaker Kevin McCarthy met at the White House on Monday, but no deal was reached. Treasury Secretary Janet Yellen has set June 1 as the X-date for raising or suspending the debt ceiling. Meanwhile, the Federal Reserve is looking toward their next meeting in June, with traders factoring in a pause in interest rate increases. Apple Inc and Broadcom Inc announced a new deal, while Lowe’s Companies Inc and Dick’s Sporting Goods Inc both affirmed their annual sales outlooks. Oil prices rose, while gold futures fell. Investors will be watching closely as the debt ceiling deadline approaches.
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