From Zacks Investment Research: 2025-05-22 11:32:00

The House is set to pass a bill extending major tax cuts, but it’s projected to add $3.1 trillion to the deficit over the next 10 years. Credit agencies have already downgraded U.S. credit from AAA to AA1. Bond markets are reacting, with the 10-year, 2-year, and 30-year bonds all up over 4%. Major indexes fell yesterday due to this news. Weekly jobless claims are at 227K, showing a healthy labor market. Retailers Ralph Lauren and BJ’s Wholesale reported earnings, with Ralph Lauren beating estimates and BJ’s showing mixed results. Today, we can expect PMI data and existing home sales reports. Earnings season is wrapping up, with Workday, AutoDesk, and Deckers Outdoor reporting after the close.



Read more at Zacks Investment Research: Pre-Markets Even Out as Investors Digest Tax Bill – May 22, 2025