Three things investors should watch for with this Debt ceiling deal.
- Fed meeting announcement on June 14th with expected 25 basis points lift on the interest rate.
- Treasuries affect Tech stocks with higher interest rates causing higher Treasury yields that could negatively impact Tech stocks.
- SoFi share price during Tuesday's market opening as the debt ceiling tentative agreement includes the student loan forbearance freeze to end. This could lead to more money going into the pockets of SoFi which has its bottom line and stock price significantly impacted by the student loan moratorium. McCarthy's yesterday interview with Fox News said "What the President did, he went unconstitutionally and said he was going to waive certain people, part of their debt for student loan. But then he paused everybody's student loan. So everybody who borrowed the student loan, within 60 days of signing, is going to have to pay that back. The Supreme Court is taking up that case. But if the Supreme Court came back and said that was unconstitutional, the president could still say he's pausing, not waiving it. But now that this is in law, the Supreme Court decision will have to be upheld."
The White House announced last November that the Student loan moratorium will end 60 days after either June 30, 2023, or the date of a Supreme Court decision on student loan forgiveness. This would mean interest would begin accruing at the end of August if the Supreme Court favors the end of the Student loan moratorium.
https://finance.yahoo.com/video/debt-ceiling-deal-investors-watch-223022379.html
[link] [comments] https://www.reddit.com/r/stocks/comments/13ut8ke/debt_ceiling_deal_impact_on_investors/
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