The market is little changed following news that the U.S. House passed a debt ceiling bill and sent it to the Senate.
The Fiscal Responsibility Act passed with bipartisan support, and is key in raising the debt ceiling and preventing the U.S. from defaulting.
Investors have been concerned about the effects of a possible U.S. debt default and its impact on the stock market. The month of May also saw a strong rally in artificial intelligence-related stocks, with the Nasdaq ending the month up 5.8%.
All attention now turns to the Federal Reserve’s upcoming meeting starting June 13, and whether or not we’ll see another rate hike.
In this morning’s stock market recap video, I’ll discuss how to navigate the tech sector… a few sectors where money appears to be moving in… where investors are looking to put their money next… how I’m trading the bond market right now… what earnings are on the table later today… plus, how to navigate the stock market in light of debt ceiling negotiations!
P.S. I’m going live at 10 a.m. ET today, June 1, in my VIP Champion Trade Room ! I’ll talk about current market action, scan for opportunities and answer your questions, so I hope to see you there!
2 Overdone Sectors and an End to the Debt Ceiling Crisis
Roger Scott | May 30, 2023
The major indexes rose to start the shortened trading week Tuesday morning on positive news regarding the debt ceiling debate.
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