Welcome to the CNBC Special Taking Stock on Mike Santoli.

Jim Kramer is off tonight.

Stocks jumping today as lawmakers by all accounts get closer to an agreement on the debt

ceiling, all major averages closing higher on the day, but the NASDAQ leading the way

amid a continued rally in AI-related tech names.

As investors try to make sense of the moves on Wall Street and in Washington tonight, we'll

dig into the week that was and what's ahead for the market coming up.

Debt ceiling deadline, the White House and Republican leadership inching closer to a

deal to raise the debt ceiling as Treasury Secretary Janet Yellen announces a new date

for a potential default.

We'll break down the latest from the capital and what it all means for your portfolio.

Plus, AI bubble, brewing and video, setting off a massive rally in the tech sector this

week after noting significant demand for its chips that enable artificial intelligence

applications, but have the stocks come too far too fast.

And retail roundup will take a look at some of the biggest earnings movers in the space

so far and what the outlook for the group is going forward.

Think a closer look at where the stock market did end up this week.

You see the S&P 500 closing above the 4200 level for the first time in about nine months,

actually just slightly ahead of that February second peak we saw before we've been in this

range for many months.

You see it knows above there, 9.5% price return for the S&P 500 so far this year.

It's a pretty good picture, although a lot of people scrutinizing exactly how we got here.

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