Market Highlight of the day: May 16
The Dow eked out a gain on Monday as consumer discretionary stocks took some lumps and energy companies rose. The indexes rebounded from recent losses to close slightly higher than they had been earlier this morning, with gains in both categories helping drag it above the psychologically significant 32.000 points milestones.
The economic repercussions of China’s slowing economy are being felt around the world, including in America where many regional banks have reported heavy losses. The US economy is slowing down which will lead more investors into safe-haven assets like gold or precious metals ETF’s.
Well Fargo said in a note “The chances of an outright recession in 2022 remain low, but the probability has risen substantially that we could see a 2023 contraction.”
In Europe, the German Minister of Defense, Scholz stressed that his country would continue supplying arms to Ukraine. He expects the promised Gepard anti-aircraft tanks should be made available “relatively quickly”, The German Minister of Defense, Scholz stressed that his country would continue supplying arms to Ukraine. He expects the promised Gepard anti-aircraft tanks should be made available “relatively quickly”, but pointed out ammunition is still being sought abroad for them (and other equipment).
