Major indices are higher amid reports suggesting McCarthy and Biden are closer to a debt ceiling resolution deal. Additionally, strong earnings from NVIDIA and Marvell this week have helped lift tech and chip stocks.
Portfolio Pulse from Benzinga Newsdesk
Major indices rise as McCarthy and Biden near a debt ceiling resolution deal, and strong earnings from NVIDIA and Marvell boost tech and chip stocks.
May 26, 2023 | 1:40 pm
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POSITIVE IMPACT
The Dow Jones Industrial Average (DIA) benefits from the debt ceiling resolution progress and strong tech earnings.
The debt ceiling resolution progress and strong tech earnings have a positive impact on the overall market, including the Dow Jones Industrial Average (DIA).
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
The Russell 2000 Index (IWM) benefits from the debt ceiling resolution progress and strong tech earnings.
The debt ceiling resolution progress and strong tech earnings have a positive impact on the overall market, including the Russell 2000 Index (IWM).
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Marvell's strong earnings contribute to the rise in tech and chip stocks.
Marvell's strong earnings report has a direct positive impact on its stock price and contributes to the overall rise in tech and chip stocks.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
NVIDIA's strong earnings contribute to the rise in tech and chip stocks.
NVIDIA's strong earnings report has a direct positive impact on its stock price and contributes to the overall rise in tech and chip stocks.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
The NASDAQ-100 Index (QQQ) benefits from the debt ceiling resolution progress and strong tech earnings.
The debt ceiling resolution progress and strong tech earnings have a positive impact on the overall market, including the NASDAQ-100 Index (QQQ).
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
The S&P 500 Index (SPY) benefits from the debt ceiling resolution progress and strong tech earnings.
The debt ceiling resolution progress and strong tech earnings have a positive impact on the overall market, including the S&P 500 Index (SPY).
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 60