Stocks are mixed as Wall Street waits to hear on Washington

The biggest near-term risk is the possibility of a US default, something that could occur as soon as June 1

US House Speaker Kevin McCarthy in talks with US President Joe Biden to avoid default

US Treasury Secretary Janet Yellen said it’s now “highly likely” that her department will run out of sufficient cash in early June, and repeated her warning that the moment could come as soon as June 1.

“I am writing to note that we estimate that it is highly likely that Treasury will no longer be able to satisfy all of the government’s obligations if Congress has not acted to raise or suspend the debt limit ...