fbpx

PU Prime App

Exclusive deals on mobile

  • Market Insights  >  Weekly Outlook

22 May 2023,05:04

Weekly Outlook

Optimism Showed About Debt Ceiling Between Biden and McCarthy

22 May 2023, 05:04

Share on:
FacebookLinkedInTwitterShare
Share on:
FacebookLinkedInTwitterShare

House Speaker Kevin McCarthy was optimistic that congressional negotiators could reach a deal to raise or suspend the debt ceiling in time.

The focus on resolving the debt limit issue overshadowed macroeconomic data as the June 1 deadline approached. McCarthy’s positive outlook came after a meeting at the White House and the involvement of trusted negotiators from President Biden’s team. Progress in the talks raised confidence among congressional leaders but also raised concerns among Democrats who feared giving House Republicans an advantage. Some Senate Democrats urged Biden to consider invoking the 14th Amendment. While the markets welcomed McCarthy’s optimism, it frustrated some Democrats. The direction of the talks and the potential impact on ordinary families and the economy remained points of contention.

Japan stock surged as the Nikkei 225 reached a new 52-week high, rising 1.60%

Japan stocks closed higher, with gains in the Communication, Paper & Pulp, and Transport sectors driving the market. The Nikkei 225 rose by 1.60%, reaching a new 52-week high. Advantest Corp., Sony Corp, and Tokyo Electron Ltd. were among the top performers. Tokyo Electric Power Co., CyberAgent Inc, and Nippon Paper Industries Co. were among the session’s worst performers. Falling stocks outnumbered advancing one on the Tokyo Stock Exchange. The Nikkei Volatility increased, indicating higher implied volatility. Crude oil prices experienced a slight decline, while gold futures also fell. The USD/JPY and EUR/JPY pairs saw modest decreases, and the US Dollar Index Futures rose slightly.

Shares of Nvidia, AMD, and Micron Soared, Fueled by AI and Automation

Shares in Nvidia Corp, Advanced Micro Devices (AMD), and Micron Technology boosted the chip sector, outperforming the broader market. Investors had sought opportunities to invest in artificial intelligence and showed interest in Japan. Chip design software company Synopsys also saw its shares rise by 8.7% after forecasting better-than-expected third-quarter profit estimates, attributing it to increased use of AI and automation. With government support, Micron announced plans to invest up to 500 billion yen in extreme ultraviolet (EUV) technology in Japan. President Fumio Kishida had encouraged companies like Micron, Intel Corp, and Taiwan Semiconductor to invest in Japan during the G7 summit, where discussions on China’s policies and sensitive technology were held. The rally in chip stocks reflected investor enthusiasm for AI technology. The S&P 500 technology and S&P 500 growth indexes also saw slower gains.

把握优势,开始交易

以行业低点差和闪电般的执行速度交易外汇、指数、贵金属等。

  • 在我们的Standard账户上以最低50美元的入金金额开始交易。
  • 获得全天候支持。
  • 获取数百种交易工具、免费教学器材和最佳的优惠活动。
立即加入

Latest Posts

简单快速的
开设账户

开设真实账户
  • 1

    即刻申请

    通过无障碍程序注册

    PU Prime

    真实账户

  • 2

    轻松入金

    通过多种渠道及可接受的货币轻松地为您的账户入金

  • 3

    开始交易

    在市场领先的交易条件下,交易数百种产品