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On the SPOT™ blog (05/22/2023) [D..]

Focus on debt ceiling negotiation continues as the deadline approaches. While the markets await the outcome of meeting between President Biden and House Speaker McCarthy, other news seems mixed. Federal Reserve official Mr. Bullard commented that he expects couple of rate hikes this year and Mr. Kashkari suggested that in case of a pause during next FOMC meeting, Feds should clarify that rate hikes wasn't done yet. Semiconductor world saw some shock waves as China seems to have stated that Micron didn't pass the cybersecurity test so MU is getting hammered today. Dow seems close to the flat line (albeit in the slight red right now) while S&P and Nasdaq appear to be in the mild green this morning (PST).

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