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.

Bắt đầu Giao dịch với lợi thế

Giao dịch ngoại hối, chỉ số, Kim loại,...với phí chênh lệch thấp trong ngành và khớp lệnh nhanh như chớp

  • Bắt đầu giao dịch với số tiền nạp thấp nhất là $50 cho tài khoản Standard của chúng tôi.
  • Hỗ trợ 24/7.
  • Truy cập hàng trăm công cụ, công cụ giáo dục miễn phí và một số chương trình khuyến mãi tốt nhất xung quanh.
Tham gia ngay

Latest Posts

Mở tài khoản nhanh chóng và dễ dàng

Tạo tài khoản Live
  • 1

    Đăng ký

    Đăng ký Tài khoản Live PU Prime với quy trình đơn giản của chúng tôi

  • 2

    Nạp tiền

    Dễ dàng nạp tiền vào tài khoản của bạn với nhiều kênh nạp tiền và loại tiền tệ được chấp nhận

  • 3

    Bắt đầu Giao dịch

    Truy cập hàng trăm công cụ trong điều kiện giao dịch hàng đầu thị trường