Reporters reported that Today (May 31, 2023), the Dow Jones Industrial Average fell steadily, as at 9:02 p.m. Thai time, the Dow Jones Industrial Average was at 32,821.57 points, down 221.21 points or 0.67%, while investors were selling to reduce their risks. Before Congress voted today on a bill to increase the debt ceiling Energy stocks led the market down. following the collapse in oil prices in the world market
The US House of Representatives will vote on a bill to increase the debt ceiling. which is named “Fiscal Responsibility Act” tonight at 8:30 p.m. US time. Or tomorrow morning (June 1) at 7:30 a.m. Thai time
If the House of Representatives approves the bill It will be forwarded to the United States Senate for consideration. and if the Senate approves It will be passed on to President Joe Biden, the leader of the United States, to sign into law to continue to take effect.
The process to pass the bill must be completed before the June 5 deadline or the United States faces a historic default.
However, the passage of the bill in the House of Representatives in which the Republican Party holds a majority won’t be easy After more than 20 conservative Republicans announced they would vote to overturn the bill. along with accusing Mr. Kevin McCarthy, Speaker of the US House of Representatives has surrendered to President Biden in exchange for minor adjustments to the budget. rather than the large-scale changes that have been agreed upon.
The Republicans also threatened to vote of no confidence in McCarthy. If the bill passes the House of Representatives, at the same time, the market will keep an eye on the non-farm payrolls figure on Friday.
Analysts predict that The number of jobs increased by only 180,000 in May. slowing from 253,000 in April The unemployment rate is expected to rise to 3.5 percent in May from 3.4 percent in April.
2023-05-31 14:49:33
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