From Nasdaq: 2025-05-22 11:00:00

President Trump’s tax bill passes the House, expected to add $3.1 trillion to deficit. Credit agencies downgrade U.S. credit from AAA to AA1. Bond market reacts with 10-year bond up over +4.6%. Major indexes drop yesterday, but are climbing today. Weekly jobless claims at 227K, continuing claims at 1.903 million.

Retailers Ralph Lauren and BJ report earnings. RL beats estimates at $2.03/share, BJ mixed with earnings beat but revenue miss. S&P flash PMI data expected today. Existing home sales expected at 4.13 million. Workday, Autodesk, Deckers Outdoor, and NVIDIA to report earnings after market close.

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Read more at Nasdaq: President Trump’s SALT Bill in Focus