{"id":58586,"date":"2023-05-18T06:23:33","date_gmt":"2023-05-18T10:23:33","guid":{"rendered":"https:\/\/www.ino.com\/blog\/?p=58586"},"modified":"2023-05-22T22:12:35","modified_gmt":"2023-05-23T02:12:35","slug":"3-tech-stocks-turning-negative-sentiment-into-positive-returns","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2023\/05\/3-tech-stocks-turning-negative-sentiment-into-positive-returns\/","title":{"rendered":"3 Tech Stocks Turning Negative Sentiment Into Positive Returns"},"content":{"rendered":"

With the U.S. Treasury set to exhaust its workarounds and run out of options to manage the national debt until the self-imposed debt ceiling is raised or suspended, the world\u2019s richest economy, which also issues the global reserve currency, is projected to run out of cash and fail to meet its obligations as early as June 1.<\/p>\n

While Treasury Secretary Janet Yellen has deemed it \u2018unthinkable\u2019 to let the U.S. default on its debt and has urged lawmakers to set their differences aside to ensure that \u201cAmerica should never default.\u201d<\/p>\n

However, with Republicans such as Donald Trump playing hardball and endorsing the notion of letting the nation default if Democrats don\u2019t agree to spending cuts, it\u2019s probably fair to say that Ms. Yellen\u2019s words are going largely unheeded.<\/p>\n

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Given that the alternatives to raising or suspending the debt ceiling, like the U.S. has done almost 80 times since the 1960s, seem either unviable or unattractive, the extent to which the U.S. and global economy could be undermined if the default comes to pass would, in the words of Yellen, be an \u201ceconomic catastrophe.\u201d<\/p>\n

With business leaders such as Jamie Dimon convening a \u2018war room\u2019 over the debt ceiling standoff, even the markets have begun pricing in the worst. The S&P 500\u2019s net loss since the beginning of the month could only worsen further the longer the crisis drags on.<\/p>\n

Do you see the U.S. defaulting on its debt this time?<\/h4>\n