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Sun, May 28th, 2023
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Stocks Finish Higher as Negotiators Inch Toward a Debt-Ceiling Agreement
Barchart - Fri May 26, 3:50PM CDT
What you need to know…
The S&P 500 Index ($SPX) (SPY) Friday closed up +1.30%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +1.00%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +2.58%.
Stock indexes Friday closed moderately higher, with the Nasdaq 100 posting a 13-1/2 month high. Stocks rallied Friday as negotiators appear to be moving closer to an agreement to raise the U.S. debt ceiling and cap federal spending for two years.
Bloomberg reported that Republican and White House negotiators are moving closer to an agreement to raise the debt limit and cap federal spending for two years, although the terms are tentative, and a final accord is still not in hand. Although most lawmakers have left Washington D.C. and gone home for the long holiday weekend, negotiators have been asked to keep working until they reach a deal.
Stocks are moving higher today despite stronger-than-expected U.S. economic reports that pushed bond yields higher and bolste... Read more
Do Bears Eat Corn on the Cob?
Barchart - 7 minutes ago
Corn's new crop bear market got me thinking, do our furry four-legged bears eat corn? And ironically, they do. With exports falling off, Brazil still loading ships with their bumper crop of corn, and the...
Turkey's Erdogan wins 5th term as president, extending rule into 3rd decade
AP - 20 minutes ago
Turkey's President Recep Tayyip Erdogan has won reelection, extending his increasingly authoritarian rule into a third decade
Russia launched 'largest drone attack' on Ukrainian capital before Kyiv Day; 1 killed
AP - 1 hour ago
Local officials in Ukraine's capital say Kyiv has been subjected to the largest drone attack since the start of Russia’s war as the city prepared to mark the anniversary of its founding
High Put Premiums on Advanced Micro Devices Stock Make Shorting Them Attractive for Income
Barchart - Sun May 28, 10:10AM CDT
Advanced Micro Devices stock has run up over 98% YTD. This has jacked up its out-of-the-money put premiums. As a result, this makes it profitable to sell them short for income investors.
China's 1st domestically made passenger plane completes maiden commercial flight
AP - Sun May 28, 7:16AM CDT
China’s first domestically made passenger jet has flown its maiden commercial flight, as China looks to compete with industry giants such as Boeing and Airbus in the global aircraft market
In Nigeria’s hard-hit north, families seek justice as armed groups seek control
AP - Sun May 28, 1:24AM CDT
Prolonged fighting in Nigeria between farmers and herdsmen is becoming more deadly
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