Financial Market Breakdown – Week of May 22, 2023

Quick Highlights

  • Futures are flat despite no progress on the debt ceiling and an increase in trade tensions between the U.S. and China.
  • There was no progress on the debt ceiling over the week- end although Biden and McCarthy will meet again today to resume negotiations.
  • China banned the use of Micron (MU) chips in what is yet another escalation in U.S./China trade tensions.