Good morning traders and investors of the r/stocks sub! Welcome to the new trading day and a fresh start! Here are your pre-market stock movers & news on this Wednesday, May the 17th, 2023-
Stock futures rise as Wall Street focuses on debt ceiling negotiations: Live updates
Stock futures rose Wednesday as investors awaited news of developments in the negotiations between congressional leaders and President Joe Biden on the U.S. debt ceiling.
Futures tied to the Dow Jones Industrial Average added 91 points, or 0.3%. S&P 500 futures and Nasdaq-100 futures gained 0.2% and 0.1%, respectively.
The White House said Tuesday that Biden has directed staff to meet daily on outstanding issues. The president also canceled the second leg of an upcoming international trip given the negotiations, the White House said.
House Speaker Kevin McCarthy said that a “better process” is now in place for further talks. He also said that it’s “possible to get a deal by the end of the week.”
“People are going to try to be anticipating what the next headline will be,” said Sam Stovall, chief investment strategist at CFRA Research. “There’s a lot at stake, and, unfortunately, there’s not a lot that we can sort of guess as to what will happen.”
Concerns over the potential of default weighed on investors in Tuesday’s regular session. The Dow led the major indexes down with a 1% drop, followed by the S&P 500 and Nasdaq Composite with respective losses of about 0.6% and 0.2%.
Treasury Secretary Janet Yellen reiterated her warning that the government needs to raise the limit immediately as the country faces the possibility of defaulting as early as June 1.
Disappointing quarterly revenue and a lower forecast for full-year performance from Dow member Home Depot also soured investor sentiment in Tuesday’s session. On the economic front, April retail sales were weaker than anticipated by economists polled by Dow Jones.
In addition to tracking any updates on debt ceiling negotiations, investors will watch for data on housing starts and building permits on Wednesday.
STOCK FUTURES CURRENTLY:
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YESTERDAY'S MARKET MAP:
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TODAY'S MARKET MAP:
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YESTERDAY'S S&P SECTORS:
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TODAY'S S&P SECTORS:
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TODAY'S ECONOMIC CALENDAR:
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THIS WEEK'S ECONOMIC CALENDAR:
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THIS WEEK'S UPCOMING IPO'S:
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THIS WEEK'S EARNINGS CALENDAR:
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THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
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EARNINGS RELEASES BEFORE THE OPEN TODAY:
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THIS AFTERNOON'S AFTER-HOURS EARNINGS CALENDAR:
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EARNINGS RELEASES AFTER THE CLOSE TODAY:
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YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:
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YESTERDAY'S INSIDER TRADING FILINGS:
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TODAY'S DIVIDEND CALENDAR:
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THIS MORNING'S STOCK NEWS MOVERS:
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STOCK SYMBOL: (TO BE POSTED LATER THIS MORNING.)
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FULL DISCLOSURE:
/u/bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk.
DISCUSS!
What's on everyone's radar for today's trading day ahead here at r/stocks?
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