Dow Adds 408 Points on Hopes of Debt Ceiling Deal

The S&P 500 and Nasdaq settled firmly higher as well

Digital Content Manager
May 17, 2023 at 4:28 PM
facebook X logo linkedin

Stocks rallied on Wednesday, as House Speaker Kevin McCarthy and President Joe Biden seemed to make progress on U.S. debt ceiling talks, with McCarthy noting a deal could happen by the end of the week. Also boosting investor sentiment was a rebound in bank stocks. The Dow rose 408 points, with both the S&P 500 and Nasdaq settling firmly higher as well. Meanwhile, the Cboe Volatility Index (VIX) snapped a three-day win streak.

Continue reading for more on today's market, including:

Closing Index Summary May 172023

NYSE and Nasdaq Stats May 172023

 Things to Know Today 

  1. Pfizer (PFE) will raise $31 billion in a debt offering to fund its Seagen (SGEN) buyout, per a new filing with the Securities and Exchange Commission (SEC). (CNBC)
  2. The United Nations weather organization said there's an over 60% chance Earth temperatures will hit a key climate marker in the next five years. (MarketWatch)
  3. stock brushed off two price-target hikes today.
  4. Electric vehicle name reveals $125 million public offering.
  5. stock surged on upbeat preliminary quarterly results.

Earnings May 172023

Unusual Options Activity May 172023

Gold, Oil Settle on Opposite Sides

Oil prices finished higher on Wednesday, as investors turned optimistic about energy demand and the overall economic backdrop amid progress on U.S. debt ceiling talks. June-dated crude added $1.97, or 2.8%, to close at $72.83 per barrel.

Meanwhile, gold prices settled at a seven-week low as the U.S. dollar strengthened and traders eyed interest rates. June-dated gold fell $8.10, or 0.4%, to close at $1,984.90 an ounce.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI