Market overview 2023-05-04

Banking sector of USA continues to be feverish and it is reflected in the general character of trades on the US stock market. Ignoring not bad corporate reporting, as well as soothing speeches of regulator, saying about suspension of FRS discount rate increase, participants prefer to reduce long positions for fear of spreading of panic moods. Uncertainty over the debt ceiling and rising geopolitical risks are also not encouraging for market participants and keep them from buying. Among the sectors, the Real Estate and Utilities sectors were good, while the Financial and Communications sectors were the clear outsiders.