U.S. stocks closed mixed Monday as investors monitored the debt-ceiling showdown in Washington. The S&P 500 SPX finished about flat, while the technology-heavy Nasdaq Composite COMP advanced 0.5% and the Dow Jones Industrial Average DJIA fell 0.4%, according to preliminary data from FactSet. President Joe Biden and House Speaker Kevin McCarthy were scheduled to meet at 5:30 p.m. Eastern Time on Monday to negotiate raising the U.S. debt ceiling. Treasury Secretary Janet Yellen has warned that the U.S. could run out of cash to pay all of its bills as soon as June 1 if Congress doesn’t lift the country’s borrowing limit.
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