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Market News

Location American Market News for 23 May 2023

Debt-Ceiling Fight Sends Investors Hunting for New Havens

Wall Street Journal - 23 May 2023 11:30
Some traders are sheltering in debt from Microsoft and J&J.
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Great Plains Drought Hits Hay Crops

Wall Street Journal - 23 May 2023 16:00
The market for hay is overshadowed by grains but can drive up food prices.
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After 27% Revenue Pop, Why Dynatrace Could Keep Beating Expectations Dynatrace forecast expectations-beating growth because its products help companies cut costs and hold onto revenue. Are investors missing something?
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Activist Investor Calls on Yelp to Explore Sale

Wall Street Journal - 23 May 2023 01:31
TCS Capital Management has built a stake in Yelp and is calling on the service-recommendation site to explore strategic alternatives.
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Stocks Fall as Investors Watch Debt Ceiling Talks

Wall Street Journal - 23 May 2023 22:20
Stocks slipped as Wall Street followed last-minute talks to stave off a U.S. default that investors fear would disrupt repayment of Treasury debt and upend financial markets.
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JPMorgan Says U.S. Virgin Islands Failed to Stop Epstein

Wall Street Journal - 23 May 2023 21:12
Bank alleges in new court filings that the U.S. territory's government took gifts and funds from the convicted sex offender.
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Broadcom Reports After The Close On 6/1 -- Options Contracts Expire The Next Day According to NextEarningsDate.com, the Broadcom next earnings date is projected to be 6/1 after the close, with earnings estimates of $10.08/share on $8.70 Billion
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Choice Hotels Seeks to Buy Wyndham Hotels & Resorts

Wall Street Journal - 23 May 2023 19:58
A deal would create one of the country's biggest budget hotel chains.
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This Is Why The Stock Market Refuses To Go Down Market participants are confused: why are stocks close to their highest in a year, when there are so many obvious problems?
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Understanding the nuances of the recent amendments in TCS provisions The Union budget 2023 has increased the TCS rate on foreign remittances made under LRS from the existing 5% to 20%, w.e.f. 1 July.
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How some credit card nerds score free flights worth ₹25L In a world where overseas trips may remain an unaffordable dream, a group of credit card aficionados, are defying the odds
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Zoom Has Some Big Sales Calls to Make

Wall Street Journal - 23 May 2023 18:33
Weaker outlook for Zoom's enterprise segment offsets signs that the consumer side has stabilized.
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Will Abercrombie's Stock Trade Higher Following Q1 Results? Abercrombie & Fitch is scheduled to report its first-quarter results on May 24. We expect ANF stock to trade higher with revenues and earnings beating expectations.
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Dusting Off the Debt-Ceiling Playbook

livemint.com - 23 May 2023 15:25
Dusting Off the Debt-Ceiling Playbook Even with the possibility of default, betting on Treasurys could pay off again
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How To Avoid The Worst Style ETFs 2Q23

Forbes - 23 May 2023 15:24
How To Avoid The Worst Style ETFs 2Q23 Three red flags you can use to avoid the worst style ETFs.
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Lowe's beat first-quarter earnings expectations but lowered its full-year sales outlook.
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Are We About To Go Into A Recession? Here's What The Data Says (Or Doesn't Say) While the data looks fairly solid, some clouds are still on the horizon with jobs and inflation that could tip the probability of a recession in the US.
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Urban Outfitters' Stock To Likely See Little Movement Past Q1 We expect the company to likely beat revenue expectations marginally and match earnings expectations in Q1.
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SVB's New Owner Sues HSBC for Poaching Key Bankers

Wall Street Journal - 23 May 2023 13:39
First Citizens, which bought most of Silicon Valley Bank in late March, has sued the British lender for more than $1 billion in damages over a talent exodus.
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These 2 'Mystery' Ingredients Can Drive 11%+ Yearly Returns In CEFs The best CEFs deliver their big dividends in a pretty straightforward way.
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What To Expect From CME Group Stock?

Forbes - 23 May 2023 13:00
What To Expect From CME Group Stock? CME Group's stock (NYSE: CME) has gained 8% YTD, as compared to the 9% rise in the S&P500 over the same period.
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U.S. Default Could Supercharge These Stocks and Spook Allies

Wall Street Journal - 23 May 2023 12:23
America's unquestioned financial might isn't the only thing in danger if the debt ceiling standoff causes a default.
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