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SPY

US equity markets tumbled after GOP debt ceiling negotiators walked out of a private meeting with White House officials. The deadlock between Republicans and Democrats has lasted since January, and a possible US debt default could materialize as early as June 1.

Portfolio Pulse from AJ Fabino

May 19, 2023 | 4:04 pm

SPY

The SPDR S&P 500 (NYSE:SPY) faced resistance at $420 on Friday, as it continued its ascent from a triangle pattern. The stock market has been rising despite increasing expectations of a Federal Reserve interest rate hike in June. The upcoming Fed meeting and the debt ceiling crisis could impact market direction and increase volatility.

Portfolio Pulse from Melanie Schaffer

May 19, 2023 | 4:03 pm

SPY

A White House official stated that a deal is still possible if both sides negotiate in good faith and recognize they won't get everything they want. Democratic votes will be needed to pass any deal.

Portfolio Pulse from Happy Mohamed

May 19, 2023 | 3:57 pm

SPY

Federal Reserve Chair Jerome Powell stated that the objective is to reach a policy stance that is sufficiently restrictive, but no decision has been made on how much more firming may be appropriate.

Portfolio Pulse from Happy Mohamed

May 19, 2023 | 3:47 pm

SPY

U.S. Senate Republican Leader Mitch McConnell criticized President Biden for waiting months before negotiating a spending deal, stating it is 'past time' for him to get serious.

Portfolio Pulse from Happy Mohamed

May 19, 2023 | 3:44 pm

COIN

Coinbase shares are trading lower due to Bitcoin's volatility amid stalled US debt limit talks.

Portfolio Pulse from Benzinga Newsdesk

May 19, 2023 | 3:44 pm

SPY

Debt limit talks between the White House and House Republicans have been paused due to an impasse on multiple issues, according to sources involved in the talks.

Portfolio Pulse from Happy Mohamed

May 19, 2023 | 3:42 pm

SPY

Fed Chair Powell stated that market prices include compensation for risk and surveys of market participants are closer to the Federal Reserve's own forecasts.

Portfolio Pulse from Happy Mohamed

May 19, 2023 | 3:38 pm

SPY

Federal Reserve Chair Jerome Powell stated that markets are pricing a different rate path, reflecting a forecast of inflation coming down more quickly. However, he believes it will take time to lower inflation, and recent data supports the committee's view.

Portfolio Pulse from Happy Mohamed

May 19, 2023 | 3:37 pm

SPY

Rep. Garret Graves announced that a meeting with White House officials was paused as it was deemed unproductive. The SPY ETF was mentioned in the article.

Portfolio Pulse from Happy Mohamed

May 19, 2023 | 3:34 pm