Stocks Rise on Monday Amid Debt-Ceiling Talks

The stock market closed higher on Monday as investors assessed ongoing debt-ceiling negotiations.

Treasury Secretary Janet Yellen mentioned last week that failure to close an agreement may lead to a financial chaos.

Overall, S&P 500 rose 0.3% to 4,136, while NASDAQ grew 0.7% to 12,365.

Tweet of the Day

Chart of the Day

Our chart of the day is the ten-year chart of Visa (V) as of May 3, 2023, when the stock was at $226.

Visa is the world’s leader in digital payments, with more than 15,000 financial institutional clients. Today, it is working on expanding the ways that money can flow digitally, via person-to-person payments (P2P), business-to-consumer transactions (B2C), and business-to-business (B2B) transactions.

Visa continues to deliver solid results, while also expanding its business into different directions. First, let’s go over last qtr’s results. Profits up 17% last qtr on 11% revenue growth with strength seen in domestic spending and cross-border travel from Mainland China to Southeast Asia and Europe. Cross-border volume grew a sizzling 24% last qtr as International transaction revenue jumped 24%. Travel from Mainland China recovered rapidly in the quarter, and benefited other areas of Asia, especially Southeast Asia.

Visa is part of the Conservative Growth Portfolio and Growth Portfolio.

Not a member? Sign up here for $25 a month.