Asian stocks ended mixed on Friday, as hopes that lawmakers in Washington will avert a first-ever U.S. default offset worries about China's uneven economic recovery.
U.S. President Joe Biden and House Speaker Kevin McCarthy hope to finalize a deal on the debt ceiling after Biden returns from the Group of Seven meeting in Japan on Sunday.
U.S. Treasury Secretary Janet Yellen told top bank executives that a failure to raise the debt ceiling would be "catastrophic" for the financial system.
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Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.