Dow Jones down 9 (0.03%) on Friday. 300 point range. Was down 199 at one point. S&P 500 down 0.16%. NASDAQ down 0.35%. Regional Banks mixed, reversing early losses. KBW regional bank index up 0.3%. Western Alliance was up, PacWest Bancorp was down. Negotiations over the U.S. debt ceiling continue. There has been some generally positive after-hours Fedspeak. U.S. consumer sentiment slumped to a six-month low. Janet Yellen is set to discuss the debt ceiling impasse with bank board members. There seems to be some suggestion of a debt ceiling deal. More of the same in other words. Banking fears and debt ceiling concerns dominate whilst Big Tech outperforms.

SPI Futures up 7.

HEADLINES

• ASX to rise; Newcrest accepts Newmont takeover offer.
• Dip buyers scorched by cratering bank stocks rush for the exists.
• Jobs to be cut, price to rise 7pc minimum wage goes ahead.
• Yellen hopeful of a solution to 'more difficult' debt ceiling showdown.
• Zelenskiy in Berlin: we can make Russia's defeat 'irreversible'.

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