U.S. stocks fluctuated, with the Standard & Poor’s 500 Index poised for the biggest weekly loss since August, as losses in oil producers and phone shares offset gains after the House of Representatives passed a budget deal.
U.S. Secretary of State John Kerry will emphasize the American presence in Southeast Asia in visits to Vietnam and the Philippines after President Barack Obama’s absence from a summit in October ceded the spotlight to China.
U.S. Senate leaders agreed to expedite consideration of Jeh Johnson’s nomination as secretary of Homeland Security after Republicans forced two all night sessions to protest losing their option to block nominees.
A White House advisory committee examining federal spy programs says in a draft report the government should continue collecting bulk records on every U.S. phone call with new restrictions to protect privacy, said an administration official familiar with the report.
The House passed the first bipartisan U.S. budget in four years yesterday, clearing the way for final Senate passage next week to ease $63 billion in spending cuts and avert another government shutdown.
A top House Democrat, praising Republican Speaker John Boehner for standing up to his party’s right wing on the budget, said the next test of congressional bipartisanship will be whether Republicans use the debt ceiling next year as a political weapon.
The U.S. Senate will vote in the coming week on a bipartisan committee’s $1.01 trillion budget agreement following its approval by the House. The proposal doesn’t touch Democrat-favored entitlement programs or corporate-tax breaks that Republicans want to protect.