INVESCO Ltd (IVZ)

The “sell in May and go away” adage refers to the historical performance of stocks underperforming during the six months from May to October.

The ceiling was suspended by Congress in 2023, and the limit was reinstated at $36.1 trillion on Jan. 2, 2025.

Jefferies upgraded Unity’s stock to ‘Buy’ from ‘Hold’ with a price target hike to $29 from $22.

Consumer spending slowed in April, with just a 0.2% rise versus the 0.7% rate seen in March.

While Dow Jones futures were down 0.09% at the time of writing, the S&P 500 futures fell 0.15%.

Bureau of Economic Analysis data also showed that real gross domestic income (GDI) fell 0.2% in the Q1 , in contrast to an increase of 5.2% in Q4.

The spotlight in Friday’s session is likely to be on the April personal income and spending report, which encompasses a key inflation measure.

He also warned that the U.S. economy is heading in the “stagflationary direction.”

During his meeting with the U.S. President, the Fed Chair emphasized that the direction of monetary policy will depend entirely on incoming economic data and its implications for the outlook.

Hassett did not disclose which three deals are on the table but stated they were ready for President Trump’s decision as of last week.

Earlier, it was reported that the U.S. economy contracted by 0.3%; the 0.1 percentage point revision reflects an upward revision to investment that was partly offset by a downward revision to consumer spending.

While Dow Jones futures were up 0.52% at the time of writing, the S&P 500 futures rose 1.11%.

Morgan Stanley Research says the U.S. will continue trade negotiations but not eliminate tariffs.

DOGE claims to have saved U.S. taxpayers $175 billion so far, through asset sales, canceled contracts, workforce reductions, and other initiatives.

A U.S. federal trade court ruled that Trump exceeded his authority by imposing sweeping global tariffs under emergency powers, declaring the measures unlawful.

Fed officials also stressed the importance of ensuring that longer-term inflation expectations remained well anchored.

Elon Musk’s Grok chatbot is reportedly being promoted for broader adoption within federal departments, including the Department of Homeland Security, despite not having received formal approval.

State Street received an upgrade from Truist, raising the stock to ‘Buy’ from ‘Hold’ and increasing its price target to $112 from $85.

While Dow Jones futures were down 0.04% at the time of writing, the S&P 500 futures rose 0.06%.

The Congressional Budget Office estimates that the U.S. may have to spend as much as $542 billion over 20 years to develop and launch the space interceptors.

The Conference Board indicated that about half of the responses were collected after May 12, when the pause on some tariffs on imports from China was announced.