Quick Quote:

"Don't put all your eggs in one basket."

- Benjamin Franklin

What Really Matters:

🗣️ Talking the Talk: President Biden and House Speaker Kevin McCarthy reached a tentative agreement to raise the nation's debt ceiling for two years and place new limits on spending over that period. The deal requires approval from both chambers of Congress and is expected to be met with opposition from some conservatives.

📈 Small Cap Growth Slows: The recent rally in technology stocks has left small-cap stocks in the dust. The Russell 2000 index of small-cap stocks is down about 10% this year, while the Nasdaq Composite index of tech stocks is up about 15%. This disparity is due to a number of factors, including rising interest rates and concerns about inflation.

🚫 Insurance Giant Steps out of California: State Farm, the largest home insurer in the United States, has stopped selling new home insurance policies in California. The company cited the state's high cost of claims and the increasing frequency of wildfires as reasons for the decision.

⚡ EV Partnerships: Ford Motor Co. is working with Tesla Inc. to allow its electric vehicle drivers to use Tesla's Supercharger network. The move is seen as a way to address the lack of charging infrastructure for electric vehicles. However, it has also stirred debate about the need for a universal charging standard.