Stock Market Today: Stocks Jump on Debt Ceiling Progress

The major benchmarks rallied into the long weekend after lawmakers said they're making strides in debt ceiling negotiations.

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(Image credit: Getty Images)

Stocks opened higher ahead of the long holiday weekend and kept climbing into the close. Lifting investor sentiment were reports of progress being made on the debt ceiling front, though no deal had been announced by the time the closing bell rang Friday.  

House Speaker Kevin McCarthy told reporters this morning that negotiators "worked through the night" to make progress on a deal, and was hoping to keep the momentum going today. "It's really coming down to one thing: This is about spending," McCarthy said.

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Karee Venema
Senior Investing Editor, Kiplinger.com

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.