Ray Dalio, the billionaire investor, has raised concerns about the mounting U.S. debt crisis, which he estimates to be a staggering $37 trillion. He has also proposed a potential solution to mitigate the impending financial turmoil.
US markets closed mixed, with modest gains in S&P and Nasdaq while Dow was flat due to losses in McDonald's and Travelers. Economic data showed increase in wholesale inventories and drop in inflation expectations. Asian markets mostly up, Europe mostly down.
Breadth metrics for June 9 confirm that last week’s sharp selloff on June 5 was likely a short-lived pullback rather than the start of a new bearish phase.
The Vanguard Total International Stock Index Fund ETF Shares, an ETF that tracks a benchmark index comprising global stocks, excluding the U.S., is up 16% year-to-date compared to the S&P 500’s 2.1% gain.
The U.S. has agreed to remove some restrictions on tech exports if it does the same with rare earth minerals, which are key inputs in a host of industries, such as energy, technology, and defense products.
Wall Street opens the week on a quiet note, with major indexes steady as investors await potential trade breakthroughs during high-level U.S.-China talks in London.
