Power Breakfast: US Stock Markets Extend Rally For 2nd Day On Optimism Regarding Debt Ceiling Deal

The US market rose for the second consecutive day on the expectation of passing the deal on the US debt limit. Dow rose 115 points while Nasdaq rose 188 points. The Nasdaq gained more than 3% this week. Nearly two-thirds of people expect the Fed to hold off on rate hikes. Fed Chairman Jerome Powell will give a speech at the public event today. Walmart's results were better than expected due to which the shares of Walmart rose 1.3%. Retail inflation in Japan rose from 3.1% to 3.4% in April. The G7 conference meeting will be held in Japan from today till 21st May.