Analyst Discusses Wednesday Trading as Stocks Climb on Optimism over Debt Ceiling
Alex Morris, president and chief investment officer with F/M Investments, joined Cheddar News to discuss Wednesday's trading session as stocks climbed amid optimism over a potential debt ceiling deal just days ahead of a deadline.
Stocks fell at the open Tuesday as the 10-year Treasury yield spiked following retail sales data and bank earnings, raising concerns over more rate hikes. Investors are also keeping an eye on tensions in the Middle East and its potential effect on global markets.
Rite Aid has filed for bankruptcy protection and plans to sell part of its business as it attempts to restructure while dealing with losses and opioid-related lawsuits.
