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CMC Markets: Passage of debt ceiling bill through the House of Representatives may signal a pause in US interest rate hikes and push oil price higher

Copper futures settle higher on debt ceiling progress

Citigroup upgrades US stocks to neutral and tech stocks to overweight due to AI momentum and expected end of Fed rate hikes, but cuts European stocks to underweight and Chinese stocks to neutral as weaker Chinese growth will hurt European economic cycle

National Association for Business Economics survey of economists push back expected Fed rate cut to Q1 2024 from Q4 2023; survey also raises estimate of inflation in 2023 to 3.3% from 3%, and lowers forecast for jobless rate to average of 3.7% from 3.9%

Commentary: Chinese yuan dips to multi-month lows, driven more by Fed's policy than economic weakness in China; Societe Generale says wider monetary policy divergence between China and US, coupled with lackluster Chinese growth would result in weaker yuan

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