Stock Market Recap | May 2nd, 2023

Another in a long string of forgettable weeks, with little price change among stocks either way, reflecting a lack of consensus among investors and wide disinterest in the entire stock market at the moment.

What little economic news that surfaced was generally negative again, although not negative enough to compel a market sell-off, which would at least yield profits from short positions.

As in most recent weeks, our stocks did not move much, as investors just do not have any confidence in being in the market at all until there is some positive, decisive pro-business action from Washington – which is not expected from the current administration.

In the meantime, we wait patiently for a productive move in stock prices either direction, which may be a while in coming, while sitting on a record-high number of unproductive positions. At the moment, no investing strategy is proving productive, leaving all investors highly frustrated.

As mentioned last week, it may take a change of leadership in Washington to see a consensus among investors develop that moves prices significantly. 2023 could prove to be a long year.