Shares of industrial and transportation companies rose as traders bet the U.S. would avert recession.
The Biden administration is preparing to seek congressional approval for a $20 billion sale of new F-16 jet fighters to Turkey along with a separate sale of next-generation F-35 warplanes to Greece, in one of the largest foreign weapons sales proposals in recent years.
The fraught victory of House Speaker Kevin McCarthy sets up a potentially damaging battle over the U.S. debt ceiling, warned one brokerage. "The narrow Republican House majority and rules changes in the House have raised the risk of fiscal brinkmanship in 2023-24," said strategists at brokerage Bank of America Global Research, in a note to clients.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-13-23 1732ET
