Main:
The Fed raised the rate by 25 bps to 5.25%. How this helps the U.S. economy in the video above.
JPMorgan bought First Republic Bank along with all the problems, but the rest of the US regional banks still got hit with a hard sell-off in stock. Should we merge them all into JPMorgan at once?
The U.S. Treasury warned of default after June 1 if the national debt ceiling is not raised. Recall that last week the probability of a real default rose from 0% to 2%.
Brent crude has been falling below $72 this week due to fears of a global recession. China, of course, is trying to ramp up its economy, but the U.S. is the world's main buyer and they are reducing demand.
Summary:
After Friday's positive in the markets, investor sentiment has begun to shift toward a continued Fed rate hike (8%). BTC is trading without a weekend, so it is reacting faster.
Quotes:
S&P 500 - 4,136 (↓0.93%)
gold - $2,016 (↑1.37%)
Oil Brent - $75.26 (↓6.15%)
USD INDEX - $101.28 (↓0.39%
