Here are the most important news investors need to start their trading day:
1. The market is sluggish
this Dow Jones Industrial Average and S&P 500 Index It has fallen for two consecutive weeks. A slew of data hinting at the health of the economy — and debt-ceiling talks in Washington — will help determine whether stocks can break their losing streak. A survey tracking manufacturing confidence in New York is due on Monday, followed by retail sales on Tuesday and weekly jobless claims on Thursday. Earnings from Home Depot, Target and Walmart will paint a picture of consumer spending. A flurry of comments from regional Fed presidents will also provide a window into whether the central bank plans to pause rate hikes. Follow real-time market updates.
2. The debt ceiling clock is ticking
The window for the U.S. to avoid a default on its debt is shrinking. Congress and the White House now have just 2.5 weeks to break the impasse and avert a catastrophe that would upend the economy and jeopardize government interests.presidential staff Joe Biden and congressional leaders met over the weekend, with Washington’s most senior officials expected to meet for a second week in a row on Tuesday. Biden said on Saturday that negotiations were “moving forward” but had not yet reached a “critical point.”
3. Retail earnings boom
The retail sector will dominate this week’s corporate earnings reports.report from The Home Depot, Target and walmart A few days in a row will provide more clues about how high prices are affecting discretionary spending — and how companies are adapting to more cost-conscious consumers. Investors will also be watching for hints from these companies about the future health of the economy. Here’s this week’s earnings schedule:
- Tuesday: Home Depot (Clock Front)
- Wednesday: target (before the bell)
- Thursday: Walmart (before the clock)
4. Vice Bankruptcy
Vice Media was once a digital upstart attracting the attention and money of traditional companies, valued at $5.7 billion.vice filed for Chapter 11 bankruptcy protection on Monday. The brand is one of a handful of digital outlets taking a hit this year as economic troubles intensify. A consortium including Fortress Investment, Soros Fund Management and Monroe Capital has made a $225 million credit bid for Vice, including $20 million to fund its operations during the sale.
5. Türkiye’s general election may enter the run-off stage
– CNBC’s Sarah Min, Elliot Smith and Natasha Turak contributed to this report.
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