STARTRADER Monday’s Market Update 22-05-2023

US indices ended last Friday’s session on a decline after a temporary suspension of debt ceiling talks between Republicans and Democrats. However, the indices posted weekly gains, with the exception of the Dow Jones, which ended the session down by 0.3%.

Janet Yellen, the US Treasury Secretary, has been making statements and issuing warnings, declaring June 1 as a crucial and irreversible deadline for raising the debt ceiling. This deadline emphasizes the urgency of resolving the issue to prevent potential economic repercussions.

In the oil markets, prices rose today, Monday, supported by the decline in the value of the dollar and reduced supplies from Canada and the OPEC+ group of producers.

Investors are eagerly awaiting the release of the Federal Open Market Committee (FOMC) meeting minutes, scheduled for next Wednesday. They hope to gain clearer guidance on market trends and potential future actions by the Federal Reserve.