Stocks Rise on Debt Deal and Positive Jobs Report

The US Senate passed the Fiscal Responsibility Act, which eliminates the possibility of a US sovereign default until early 2025. The focus is now on the economy and monetary policy, with Fed officials signaling a potential "skip" in the June 14 meeting. The market for generative AI is projected to reach $1.3 trillion in revenue by 2032, according to a new report by Bloomberg Intelligence. Apple's Worldwide Developers Conference is happening next week, with expectations of a virtual reality headset and updated software for its products. The chart for Apple's stock is sending a bearish signal with a rising, narrowing wedge pattern.