Trading Tuesday

Ranora Daily - Your daily source for reliable market analysis and news.

May 23, 2023

Market Data

Local

Global

*Data as of 6pm WAT

Market News

Local

Global

Weekly Investment Watchlist

Market Commentary

Asia and Australia

  • Japan manufacturing PMI returns to growth, services expands at fastest pace on record

  • Samsung and SK Hynix May Benefit From China's Micron Ban

Europe, Middle East, Africa

  • Eurozone flash Composite PMI declined more than expected in May to 53.3 vs 53.5 expected and 54.1 prior. Reason is the disappointing performance in manufacturing, which posted the 11th straight contraction at 44.6 vs 46 expected, the lowest since May 2020

  • BoE paper says QE portfolio may be cut in half to £400B

  • Latest UK PMI sees activity slow from April's one year high

The Americas

  • Biden and McCarthy met to discuss debt ceiling, talks described as "productive”; Yellen reiterates highly likely US will run out of cash as early as 1-Jun

  • Fed survey shows deterioration of consumer financial health from elevated inflation

  • Fed members still discussing the possibility of a rate hike

The Week Ahead:

  • Monday: Fed talk - Bullard, Barkin, Bostic, Daly

  • Tuesday: Redbook, S&P Global flash PMIs, new home sales, Richmond Fed manufacturing, API crude oil stock change

  • Wednesday: FOMC minutes

  • Thursday: Initial jobless claims, GDP growth, pending home sales

  • Friday: Core PCE, personal income & spending, durable goods orders, Michigan consumer sentiment

Investment Tip of The Day

Your risk tolerance may change over time due to various factors. It's important to reassess it periodically and adjust your investments accordingly to ensure they align with your comfort level.

Meme of the Day

Disclaimer: The information contained in this report is intended for informational purposes only and should not be considered as investment advice. The information is obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed.