A Simplified Stock Market Recap: 5/8-5/12
This week's top financial news along with easy-to-understand technical analysis of markets
Welcome back subscribers! As always, I’m here to break down the top finance and stock market news of the week so that you can stay informed and understand what’s happening and why.
This week, we’ll dive into the latest developments in the ongoing market recovery as well as some important headlines such as the US debt ceiling. We’ll also look at the charts of the S&P 500 & Nasdaq indexes to identify key levels to keep an eye on. Let’s dive in.
US Debt Limit Approaching
Perhaps the biggest financial news this week is the approaching deadline to do something about the US debt limit.
The United States government has hit its debt limit of $31.4 trillion. This means that the government can no longer borrow money to pay its bills. The Treasury Department has been using "extraordinary measures" to keep the government running, but these measures are expected to run out by June 1.
If the debt limit is not raised or suspended, the government will be forced to default on its debt (which has NEVER HAPP…
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