News / Uncategorized
[Platinum Insights] (5.23.23)
[Platinum Insights] (5.23.23)
August 22, 2023
Good morning.
Wall Street futures were subdued on Tuesday after another round of inconclusive talks over increasing the U.S. debt limit, raising the specter of an unprecedented default.
White House and congressional Republican negotiators will meet again later in the day to discuss how to raise the $31.4 trillion debt ceiling, with just nine days left for the deadline. “If no agreement is reached, the U.S. could default on interest it owes on its debts, sending borrowing costs soaring and shockwaves through the global economy,” Susannah Streeter, head of money and markets at Hargreaves Lansdown wrote in a note.
Worries over the debt limit pushed yields on one-month Treasury bills to record highs at 5.888%.
Investors await S&P Global’s flash reading of the U.S. Composite PMI Index for May due later in the day. The Commerce Department’s April personal consumption expenditure (PCE) index reading, the Fed’s preferred inflation gauge, is due on Friday.
Shares of Lowe’s were down nearly 1% in premarket hours after the company lowered its full-year sales forecast. BJ’s Wholesale and Dick’s Sporting Goods are set to report quarterly results as well.
WTI crude futures have been trading near the $72 per barrel. Gold weakened toward $1,960 an ounce while the yield on the US 10-year Treasury note rose to 3.72%, the highest since mid-March. The dollar index edged higher to 103.5.
Trading on the S&P 500 index has been stuck in a 30-point range in the last two sessions as U.S. debt ceiling talks linger, while a mega cap led bounce on the Nasdaq helped it close the previous day higher.
Share this article:
More in Uncategorized:
Ultra Clean Holdings (UCTT) July 25, 2024, Earnings Call Summary
Future Price Projections Participants: Rhonda Bennetto – Senior Vice President, Investor Relations Jim Scholhamer – Chief Executive Officer Sheri Savage...
[Platinum Insights] (5.23.23)
July 26, 2024
APPLE, MICROSOFT, NVIDIA PRICE TARGET 🎯
Short term, price targets for the top three S&P 500 holdings
Short term, price targets for the top three S&P 500 holdings The following are my price targets for the very...
![Trent Grinkmeyer in front of stock market with bull background](https://bestofusinvestors.com/uploads/2023/06/trent-e1687263019450-300x300.webp)
Trent Grinkmeyer
July 25, 2024
Nvidia's Stake in Serve Robotics: A Game-Changer for AI-Powered Delivery?
The tech world was buzzing last week when news broke that AI chip giant Nvidia owns a 10% stake in Serve Robotics, a company specializing in autonomous sidewalk delivery robots. This revelation sent Serve's stock soaring an impressive 233% over two days. But what does this mean for the future of AI-powered delivery, and should investors jump on board?
The tech world was buzzing last week when news broke that AI chip giant Nvidia owns a 10% stake in...
![Trent Grinkmeyer in front of stock market with bull background](https://bestofusinvestors.com/uploads/2023/06/trent-e1687263019450-300x300.webp)
Trent Grinkmeyer
July 24, 2024
The Commercial Real Estate Crash
Its Ripple Effect on the Banking System and The Stock Market
The commercial real estate market is on the verge of a significant downturn, potentially mirroring the infamous 2008 financial crisis....
[Platinum Insights] (5.23.23)
July 23, 2024
The Democratization of Compute
A Paradigm Shift in Business and Investment Artificial Intelligence (AI) is undeniably transformative, poised to revolutionize the world as we...
![Kerry Grinkmeyer in a suit standing in front of a stock chart with a bull on it](https://bestofusinvestors.com/uploads/2023/07/kerry-300x300.webp)
Kerry Grinkmeyer
July 23, 2024
Are Google and Meta Heading for a Stock Price Slump?
As an investor, it's crucial to keep a keen eye on market trends and potential shifts that could impact major players. Today, I want to discuss two tech giants that have long been darlings of Wall Street: Google and Meta. While they've enjoyed impressive growth and dominance in their respective fields, there are signs that their stock prices might face some headwinds in the near future.
As an investor, it's crucial to keep a keen eye on market trends and potential shifts that could impact major...
![Trent Grinkmeyer in front of stock market with bull background](https://bestofusinvestors.com/uploads/2023/06/trent-e1687263019450-300x300.webp)
Trent Grinkmeyer
July 23, 2024