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        Wall Street Today | Treasury Chief Janet Yellen Says US Risks Default as Soon as June 1 Without Debt Ceiling Increase

        Moomoo Recap US wrote a column · 05/02/2023 08:38
        Wall Street Today | Treasury Chief Janet Yellen Says US Risks Default as Soon as June 1 Without Debt Ceiling Increase
        Treasury Chief Janet Yellen Says U.S. Risks Default as Soon as June 1 Without Debt Ceiling Increase
        Treasury Secretary Janet Yellen said the U.S. government could become unable to pay all of its bills on time as soon as June 1 if Congress doesn't first raise the debt limit.
        >>Read More
        Fed Set to Raise Interest Rates to 16-Year High and Debate a Pause
        Federal Reserve officials are on track to increase interest rates again at their meeting this week while deliberating whether that will be enough to then pause the fastest rate-raising cycle in 40 years.
        Stock Pickers on Wall Street Are Going All-In on Recession Bets
        Increasingly, professional stock pickers are shifting money out of economically sensitive shares like banks while parking it in stocks seen as resilient during economic downturns, such as utilities and consumer staples.
        Hedge funds that make both bullish and bearish wagers have cut their cyclical holdings versus defensive equities to the lowest level since at least 2012, data compiled by Bank of America show.
        Trader 'Exhaustion' Drags April ETF Volume to Lowest Since 2020
        US ETFs traded $2.1 trillion worth of shares in April, the lowest monthly total since August 2020 and roughly half of March's trading, Bloomberg Intelligence data show. The drop-off coincides with the Treasury market's quietest month in two years, while the S&P 500 remained locked in a range.
        Jamie Dimon Says 'This Part of the Crisis Is Over' After JPMorgan Chase Buys First Republic
        The crisis that led to the downfall of three regional U.S. banks in recent weeks is largely over after the resolution of First Republic, according to JPMorgan Chase CEO Jamie Dimon.
        Meta Platforms Raises $8.5 Billion in Second-Ever Bond Sale
        The social-media behemoth, which reported earnings last week, raised $8.5 billion in a five-part deal, according to a person familiar with the matter. The longest portion of the offering, a 40-year security, yields 192 basis points over Treasuries, less than initial discussions for about 215 basis points. $Meta Platforms(META.US)$
        JPMorgan Chase Takes over First Republic After Biggest U.S. Bank Failure Since 2008
        $JPMorgan(JPM.US)$, already the largest U.S. bank by several measures, emerged as winner of the weekend auction for First Republic. It will get all of the ailing bank’s deposits and a “substantial majority of assets,” the New York-based bank said.
        'Godfather of A.I.' Leaves Google After a Decade to Warn Society of Technology He's Touted
        Geoffrey Hinton, known as the "godfather of AI," is leaving his role at $Alphabet-A(GOOGL.US)$ and plans to warn of the risks of the technology he's long promoted.
        Lordstown Motors Warns of Bankruptcy as Foxconn Deal Unravels
        $Lordstown Motors(RIDE.US)$ Corp. may be forced to cease operations and file for bankruptcy after manufacturing giant Foxconn told the electric-vehicle company that it's prepared to pull out of a production partnership.
        NXP Semiconductors Stock Rallies 4% as Results, Outlook Top Wall Street View
        $NXP Semiconductors(NXPI.US)$ shares rose in the extended session Monday after the chip maker -- which gets more than half its sales from auto makers -- topped Wall Street estimates for the past quarter, and in its outlook for the current one.
        >>Read More
        Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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