FinSys Update: US House,Senate Return To Work On Debt Deal IMarketnews.com
WASHINGTON (MNI) - The following are top events and news reported Tuesday ET in the global financial system by Market News International:
* Both the House and Senate will both be in Washington this week ostensibly to work with President Obama on a package to increase the statutory debt ceiling and cut budget deficits. But so far, no meetings have been scheduled between top administration officials and Republican leaders in Congress. Senate Majority Leader Harry Reid said Senate Democrats will review a draft FY'12 budget resolution Tuesday by Senate Budget Committee Chairman Kent Conrad. [12:03 ET]
* U.S. factory orders rose 0.8% in May, with revisions to the path of core capital goods orders and shipments small but positive. Growth in core capital goods orders was unrevised at 1.6% in May and revised up to -0.4% in April. Core capital shipments growth was revised up to 1.8% from 1.4% in May, and to -1.5% in April. The rise in headline factory orders in May was boosted by gains in transportation (6.3%) and computers and electronic products (1.2%), which offset a 0.2% decline in nondurable orders. Total shipments rose 0.1% in May. [10:00 ET]
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