Marcus Today Pre-Market Podcast – Tuesday 30th May
The US markets and London were closed overnight for Memorial Day holiday and Spring Bank Holiday. The US debt ceiling deal is now facing potential challenges as some members of the Republican party have expressed opposition to raising the US debt ceiling, which currently stands at $31.4 trillion, dampening optimism. Despite this, US equity futures showed modest gains, with cautious optimism prevailing that a default will be avoided.
In European markets, there was a general decline, primarily driven by the underperformance of tech and bank stocks. The STOXX 600 Index dipped by 0.1% after experiencing its strongest one-day gain in nearly two months on Friday.
Nvidia made an announcement on Monday regarding its plans to construct Israel's most powerful AI computer. This decision is in response to the increasing customer demand for AI applications. The new system is anticipated to become one of the fastest supercomputers worldwide.
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