The View from 5th Avenue

The View from 5th Avenue – 22 May 2023

It’s a treadmill run kind of training trading day. The work was put in, we broke a sweat in reaction to a few headlines, but no actual distance was covered. Aside from the momentary blip lower in the first hour of trading on fake news via an AI-generated image and accompanying news of an explosion at the Pentagon that was quickly debunked… The S&P struggled and again failed to secure a close above 4200 as lawmakers tweet over the debt ceiling debate and Fed speakers chime in with their rate p…

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