5 things to know before the stock market opens Monday, May 23

Rivai H Tukimen

Here are the most important news, trends and analysis that investors need to start their trading day:

1. S&P 500 set to open higher after narrowly avoiding a bear market close

Traders on the NYSE, May 20, 2022.

Source: NYSE

2. Bond yields move higher as traders wait for this week’s Fed minutes

3. Biden says he would defend Taiwan militarily if China were to attack

Biden says the idea that Taiwan can be taken by force is “not appropriate.”

Pool | Getty Images News | Getty Images

President Joe Biden on Monday said he’d be willing to use military force to defend Taiwan, prompting gratitude from the democratic, self-ruled island but sharp criticism from China. In Japan, the second stop in his first trip to Asia since taking office, Biden said he doesn’t expect China to attack Taiwan despite stepping up military provocations in recent years. The U.S. has traditionally avoided making such explicit security guarantees to Taiwan — and a White House official later walked back Biden’s comments, saying they did not reflect a policy shift.

  • Biden also said he’s considering easing tariffs on Chinese imports, measures put in place by his predecessor Donald Trump. Biden’s comments on tariffs came after Treasury Secretary Janet Yellen suggested such a move might help ease rampant inflation gripping the U.S. economy.

4. Ukraine’s president calls for ‘maximum’ sanctions against Russia for war

President of Ukraine Volodymyr Zelenskyy addresses the World Economic Forum (WEF) via video conference in Davos, Switzerland on May 23, 2022.

Anadolu Agency | Anadolu Agency | Getty Images

5. Pfizer says three Covid shots for kids under 5 are 80% effective against omicron

Empty vials of Pfizer-BioNTech coronavirus disease (COVID-19) children’s vaccines are pictured at Skippack Pharmacy in Schwenksville, Pennsylvania, U.S., May 19, 2022. 

Hannah Beier | Reuters


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