CNBC Investing Club

What the Investing Club is watching Monday — Biden angers China, JPMorgan reverses guidance

U.S. President Joe Biden speaks during a joint news conference with South Korean President Yoon Suk-yeol at the Presidential office in Seoul, South Korea, May 21, 2022. 
Jeon Heon-Kyun | Reuters

What we are watching May 23, 2022

  • We're monitoring the implications of President Joe Biden on Monday saying the United States would use force to defend Taiwan if attacked, prompting criticism from China.
  • Semiconductor giant Broadcom (AVGO) is reportedly in advanced talks to acquire cloud computing company VMware (VMW). This could be an important deal because serial dealmaker CEO Hock Tan has been waiting for multiples to come down before striking. Piper Sandler says this is another signal that we may be nearing a market bottom in enterprise software. VMWare shares bounced more than 21% in the premarket, while Broadcom fell more than 4%.