Lucas Jackson/Reuters
- US stocks climbed Friday, but the major indexes remain on track for a losing week.
- Debt-ceiling talks drag on, and investors are weighing the implications of the fast-approaching X-date.
- President Joe Biden and lawmakers have postponed a meeting for further negotiations until next week.
US stocks climbed Friday, but were on track for a weekly decline as investors continue to take in the ongoing debt-ceiling stalemate. Reports said that a planned Friday meeting between lawmakers and President Joe Biden has been delayed until next week.
With a looming potential US default and more regional bank weakness surfacing, recession fears are mounting. Treasury Secretary Janet Yellen said the so-called X-date, when the US could default on its debt, could arrive as soon as June 1.