Daily Report | 25 May 2023
The Dow Jones ended lower for a fourth-straight day as US debt ceiling talks reached a stalemate which stoked worries about a potential US default for the first time in four decades, right on June 1 as its deadline.
Wall Street Stocks Closed in The Red on Tuesday
Wall Street stocks closed in the red on Tuesday (23/05/23); short-term US Treasury yields soared on the back of deadlocked talks over the US debt ceiling.The lack of progress comes just days ahead of June 1, as feared by US Treasury Secretary Janet Yellen, although both US President Joe Biden and Republican McCarthy have touted optimism about reaching a deal soon to avoid a default.
Daily Report | 24 May 2023
Dow Jones closed in the red, along with the S&P 500 and Nasdaq, as policymakers failed to reach an agreement on the US debt ceiling. The lack of progress comes just days ahead of June 1, as feared by US Treasury Secretary Janet Yellen, although both US President Joe Biden and Republican McCarthy have touted optimism about reaching a deal soon to avoid a default.
US and European Stock Markets Were Mixed
US and European stock markets were mixed ahead of talks in Washington to avert a US debt default; while gold prices retreated under pressure from hawkish remarks by Federal Reserve officials. World oil prices were somewhat finished higher on demand optimism; US Treasury yields also crept up.
Daily Report | 23 May 2023
All three major Wall Street indexes closed mixed; European stocks were also finished little-changed as talks in Washington resumed to avert a US default; while gold prices retreated under pressure from hawkish remarks by Federal Reserve officials.
Weekly Report | 22 May 2023
Last week was opened by Indonesia Trade Balance (Apr.) which successfully maintained its 36th consecutive month of surplus, at USD 3.94 billion, higher than expectations of USD 3.38 billion. Indonesia also reported 1Q23 external debt levels remained under control at USD 402.8 billion, which is equivalent to 30.1% of GDP.
The Bearish Sentiment on Friday Trading (19/05/23)
The bearish sentiment on Friday trading (19/05/23) due to the deadlock in talks over the US debt ceiling solution, has become more optimistic after President Joe Biden and Republican Kevin McCarthy promised to meet as soon as Biden returns from the G7 Summit.
Daily Report | 22 May 2023
The US stock market closed in negative territory on Friday (19/05/23) due to the deadlock in talks over a solution to the US debt ceiling; however, the S&P500 posted its best performance since March.
The US Market Rose for The Second Consecutive Day
The US market rose for the second consecutive day amid optimism that negotiations over raising the nation’s debt ceiling can be resolved in the next few days. In economic data release, Initial Jobless Claims fell to 242,000 (lower than expectations and the previous week), a sign of a tight labor market.
