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• Debt-ceiling talks between Biden, congressional leaders likely to resume Tuesday
  The second round of debt-ceiling talks between the White House and congressional leaders appears set...
  The second round of debt-ceiling talks between the White House and congressional leaders appears set for Tuesday, President Joe Biden said Sunday.
  
  “I remain optimistic because I’m a congenital optimist,” Biden told reporters Sunday in Rehoboth Beach, Del. “But I really think there’s a desire on their part as well as ours to reach an agreement. I think we’ll be able to do it.”
  

  
  
  When asked about the progress of the negotiations, Biden said: “I think they are moving along, hard to tell. We have not reached the crunch point yet.” 
  
  
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• Tesla Recalls Cars Made in China
  Tesla recalled nearly every car it has sold in China,...
  Tesla recalled nearly every car it has sold in China, some 1.1 million vehicles, to fix a braking defect. But no one will have to bring their car back to the shop: Tesla will push an over-the-air software fix to the vehicles.
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• Transocean eyes drillship wind power conversion
  Drilling contractor Transocean is considering converting two of its drillships for use in offshore wind...
  Drilling contractor Transocean is considering converting two of its drillships for use in offshore wind installation, having signed a memorandum of understanding with turbine installation vessel owner Eneti. David Keddington, Transocean's vice president of global supply chain, said the decision to go ahead with the conversion will depend on agreeing to the right terms with a client who is willing to pay for heavy lift vessels.
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• DOE commits to replenishing SPR stocks
  The Department of Energy will begin replenishing the Strategic...
  The Department of Energy will begin replenishing the Strategic Petroleum Reserve once it has delivered on a commitment to offload 26 million barrels from the reserve next month, Energy Secretary Jennifer Granholm has told lawmakers. The Biden administration carried out several major sales from the reserve last year, taking stocks down to a 40-year low, and has previously pledged to make purchases once the price of crude oil falls below a range of $67 to $72 per barrel.
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• Dow, S&P 500 suffer back-to-back weekly losses
  A preliminary reading on the University of Michigan’s consumer sentiment index fell to a six-month...
  A preliminary reading on the University of Michigan’s consumer sentiment index fell to a six-month low of 57.7. Economists polled by the Dow Jones expected a May reading of 63.0. The survey also showed the outlook for inflation over the next 5 years climbed to 3.2%, tying the highest clip since June 2008.
  
  Investors are also keeping an eye on Washington as concerns around debt ceiling negotiations persisted. CNBC reported that a debt ceiling meeting between President Joe Biden and congressional leaders that was set for Friday was postponed to next week.
  
  The S&P 500 and Dow fell for a second consecutive week, down 0.29% and 1.11%, respectively. The Nasdaq gained 0.4%.
  
  
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