weekly market update

Despite the ongoing debt ceiling drama, stocks ended the week with notable strength, as a blowout earnings report from semiconductor giant Nvidia, coupled with encouraging headlines around White House and Republican negotiations, pushed the S&P 500 back towards 4,200.  Negotiations are fast moving and exact details unclear, but recent reports indicate that a deal to raise the debt ceiling for two years is potentially imminent.  However, consensus expectations have long revolved around a last-minute agreement, and while we anticipate no shortage of headlines over the Memorial Day weekend, we will be monitoring the situation.

On behalf of the entire Peddock Team, we would like to
wish everyone a wonderful and safe Memorial Day weekend!

In observance of the holiday, our office will be closed Monday, May 29, 2023.

~ Your Team at Peddock Capital Advisors, LLC ~