Marcus Today Pre-Market Podcast – Tuesday 23rd May

US stocks closed mostly higher in an uneventful day of trade. The Dow closed 140 points lower, the S&P 500 near flat, finishing just in the green ending off session highs just under the 4200 level, and the NASDAQ added 0.5%, supported by gains in Alphabet and Meta. European stocks finished little changed. Gold come under pressure from Hawkish Fed officials, Treasury yields weaker 2Y yield back above 4.3%, USD stronger and shares in PacWest Bancorp surged by almost a fifth +19.55% on news it has agreed to sell a portfolio of 74 real estate construction loans to a subsidiary.

Dow Jones down 140 points (-0.42%). S&P 500 up 0.02%. NASDAQ up 0.50%. VIX Volatility Index up 3.1%. In European markets Stoxx 600 -0.01%, FTSE +0.18%, CAC -0.18%, and DAX -0.32%.

SPI Futures are up 5 points

• Wall Street mixed, European stocks flat as US debt ceiling talks progress.
• Clock ticking, 'optimistic' Biden and McCarthy meet on debt ceiling.
• TikTok sues Montana after state bans app.
• Inflation has eroded U.S. households' financial security, Fed survey shows.
• Ford seeks to reassure investors with EV, cost cut plans.
• PacWest shares jump after $2.6 bln real estate loan sale.
• Investors on Wall Street turn to tech stocks.
• Macquarie flags credit crunch risk from tight lending conditions.
• Meta Fined Record €1.2 Billion in EU Over US Data Transfers.

Tune in to Henry Jennings’ Pre-Market Podcast to get in the know for the day ahead.
 
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