Economics

 

President Joe Biden and Jill Biden. Evan Vucci/AP  

US debt ceiling  

Debt ceiling agreement passed the first test  

 

The US debt ceiling deal passed its first test on Tuesday when it passed the House Rules Committee, and is now ready to be voted on in the next stage: the House of Representatives. 

 

During Wednesday, the House of Representatives is expected to consider the agreement, and if it is voted through, it can be sent on to the Senate.  

 

  

The stock market recovers – Braincool rushes to contracts  

 

The debt ceiling deal's path to a vote in the Senate and gloomy signs for Chinese industry are on the market's table on Wednesday. The stock market started weakly but recovered by lunchtime:  

 

• OMXSPI: −0.3%  

• OMXS30: +0.1%  

 

SBB falls almost 10 percent to a new low of SEK 4.33. On Tuesday it emerged that Ilija Batlja's ownership company is forced to postpone interest payments.  

 

At the top of the OMXS30, Astra Zeneca rises 1.4 percent, just ahead of Handelsbanken, which is up around 1.2 percent.  

 

Braincool has signed a distribution agreement with a minimum order value of SEK 100 million. The stock surges 40 percent.  

 

DNB Markets has started monitoring Bilia and landed in a buy recommendation with a target price of SEK 130. The share rises 2.4 percent.  

 

Azelio falls 14 percent on a report where revenue fell but loss narrowed. According to CEO Jonas Wallmander, we are in a challenging period and will "need to accelerate and brake at the same time".  

 

The New York stock exchanges yesterday  

S&P 500: +/-0.0%  

Dow Jones: -0.2%  

Nasdaq: +0.3%