Market overview 2023-05-17

Some hints of agreement on changing the U.S. government debt ceiling, coupled with information on the U.S. president's quick return home from the G7 summit to conduct a dialogue on the issue directly with Republicans encouraged the stock market, leading major stock indexes to rise within 1.2 percent. The optimism, however, was tempered by continued comments from Fed officials about the need to closely monitor unemployment and inflationary pressures. The Energy and Financial sectors demonstrated the best dynamics in the trading, while the Utilities sector was the clear outsider of the trading.