London, Monday, 15 May 2023
As investors processed the most recent data and kept an eye on the debt limit negotiations, US markets had a mixed start to the week, with the Dow Jones shedding roughly 60 points, the S&P 500 trading close to its flatline, and the Nasdaq gaining 0.2%.
This month's manufacturing business activity was significantly down, as indicated by the NY Empire State Manufacturing Index.
A meeting between President Biden and legislative leaders to talk about the debt ceiling limit is also planned for Tuesday. This comes after successful staff-level negotiations over the weekend.
Traders, meanwhile, will pay particular attention to numerous Federal Reserve officials' presentations this week. Raphael Bostic, president of the Federal Reserve Bank of Atlanta, rebuffed predictions that the central bank will lower interest rates this year.
(Written and edited by: The Decision Maker - Finance editors)