Debt Default Averted, Summer Travel Trending, & ‘Bull’ Has Entered the Market Chat 6/05/23

The markets may be poised to exit the bear market, and Washington has averted a debt default crisis. House Speaker Rep. Kevin McCarthy (R-Calif.) discusses the passage of the debt ceiling deal, spending cuts, and bipartisanship moving forward. Labor disputes in California have congested shipping flows, and oil prices are on the rise in the wake of the latest OPEC+ meeting and an announcement from oil giant Saudi Arabia. Plus, over 50% of Americans are packing their bags for vacation over the next 6 months; Marriott CEO Tony Capuano discusses this year’s summer travel demand and the strength of the travel industry, despite economic uncertainty. 

In this episode:
Kevin McCarthy, @SpeakerMcCarthy

Joe Kernen, @JoeSquawk
Becky Quick, @BeckyQuick

Andrew Ross Sorkin, @andrewrsorkin

Katie Kramer, @Kramer_Katie