Stock Market Overview
Sun, Jun 2nd, 2024
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Stocks Rally Late to Close Out a Volatile Session
Barchart - Fri May 31, 4:04PM CDT
The S&P 500 Index ($SPX) (SPY) Friday closed up +0.80%, the Dow Jones Industrials Index ($DOWI) (DIA) closed +1.51%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed -0.01%.
Stocks Friday rallied sharply in the last 20 minutes of the session, reversing the losses seen earlier in the day when the S&P 500 index was down as much as -0.8% and the Nasdaq 100 index was down as much as -1.9%. Volatility emerged on Friday partly because of the last trading day of the month and the rebalance of some stock indexes.
US stock indexes Friday saw support from the -4.6 bp decline in the 10-year T-note yield on the as-expected US PCE deflator, which kept alive hopes for a Fed interest rate cut later this year. The T-note yield also fell on the slightly weaker-than-expected US personal spending report. Tech stocks were undercut by weakness in chip stocks and long liquidation pressure in some of the mega-cap tech stocks.
The April PCE deflator report of +0.3% m/m and +2.7% y/y was un... Read more
3 Growth Stocks Under $10 With Breakout Potential
Barchart - Sun Jun 2, 11:00AM CDT
Discover three under-the-radar biotech and medtech stocks that analysts believe could soar in 2024, each with unique growth drivers and significant upside potential.
Costco Shows Solid Growth, But COST Stock is Close to Fair Value - Short Put Plays Are Best Here
Barchart - Sun Jun 2, 10:52AM CDT
Costco Wholesale Corp had stable growth and free cash flow for its fiscal Q3 ended May 12. But COST stock looks only slightly undervalued. Shorting out-of-the-money puts is the best play here.
Up 27% YTD, Is This Energy Dividend Stock Overvalued?
Barchart - Sun Jun 2, 7:45AM CDT
Western Midstream is a midstream company that pays shareholders a tasty dividend yield amid an uncertain and volatile macro environment in 2024.
The ANC party that freed South Africa from apartheid loses its 30-year majority in landmark election
AP - Sat Jun 1, 5:27PM CDT
The African National Congress party has lost its parliamentary majority in a historic election result that puts South Africa on a new political path for the first time since the end of the apartheid system...
Panama prepares to evacuate first island in face of rising sea levels
AP - Sat Jun 1, 11:18AM CDT
The Gunas of Gardi Sugdub are the first of 63 communities along Panama’s Caribbean and Pacific coasts that government officials and scientists expect to be forced to relocate by rising sea levels in...
1 'Strong Buy'-Rated Growth Stock That Analysts Expect to Almost Double
Barchart - Sat Jun 1, 9:15AM CDT
While Li Auto stock is down sharply in 2024, and sentiments towards the Chinese EV company are at best tepid, Wall Street analysts expect the stock to nearly double from these levels.
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