June 2nd, 2023 Markets rallied this week as the President and Congress managed to strike a deal to raise the debt ceiling and as May nonfarm payrolls crushed analyst estimates. After weeks of political wrangling, Biden and McCarthy agreed on terms to lift the government’s $31.4 trillion debt ceiling, averting a government default. The agreement…
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May 19th, 2023 Stocks notched a winning week as economic data continued to shine in spite of a last minute halt to debt ceiling negotiations. Despite still elevated prices and high borrowing costs, consumers were back to spending once again. April retail sales posted their first positive month-to-month print since January, led by discretionary spending…
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May 12th, 2023 Markets Drift Lower While Debt Ceiling Theatrics Wait in Wings Below is a summary of the news and events driving the market and the economy over this past week. Regional Banks Continue to Unnerve Markets: Stocks struggled to move higher for the second consecutive week as investors weighed regional bank concerns against a…
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