From Investing.com: 2025-05-22 08:53:00

European markets started the day with concerns over US tax-cut bill impact on deficit. Treasury prices dropped, affecting bond market. German business sentiment improved, but Eurozone PMI disappointed. Private sector activity declined, raising stagflation concerns. Euro and FTSE traded lower amidst uncertainty. US tech and growth stocks edged up in premarket trading. Cryptocurrency-related stocks surged as Bitcoin hit a record high. Snowflake soared after raising revenue forecast. US tax bill passed the house, but concerns over budget deficit remain. Economic data and Fed officials’ speeches expected in US session. S&P 500 approaches key support level at 5800. Bulls still in control, with support at 5785 and 5736. Upside potential towards 5883, 5910, and 5962 levels.



Read more at Investing.com: Market Update: US Tax Bill, Eurozone PMI and S&P 500 Technicals