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Market Briefing For Tuesday, June 6
Article By: Gene Inger
Tuesday, June 6, 2023 3:49 AM EDT
Last week's market run-up- needed consolidation and only got a little bit before the S&P recovered, with the Dow lagging considerably (and a late sell-off).
In this article: AAPL, LPTH Also: QQQ, DIA, NDX, SPX
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Yet Another Month Of Questionable Federal Jobs Data As 310,000 Fewer People Report Having Jobs
Article By: Ryan McMaken
Tuesday, June 6, 2023 2:04 AM EDT
May appears to be yet another month in which it seems nearly every economic indicator except the payroll jobs data points to an economic slowdown.
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Have We Whipped Inflation Now?
Article By: Dean Baker
Monday, June 5, 2023 11:37 PM EDT
The big issue, which is still unresolved, is whether we will need to see a substantial rise in the unemployment rate to bring inflation under control. The most recent wage data suggest that we may not.
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ISM Services Drops To A Barely Above Contraction Level Of 50.3%
Article By: Mish Shedlock
Monday, June 5, 2023 4:00 PM EDT
ISM manufacturing has been signaling recession for six months. 
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Inflation: A Decomposition To Profits, Unit Costs
Article By: Menzie Chinn
Monday, June 5, 2023 2:36 PM EDT
The price of real gross value added for the nonfinancial corporate business sector is not a typically cited deflator. It’s useful to compare against CPI and PCE deflator.
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ECRI: Market “O-shit” Moment Yet To Come
Article By: Danielle Park, CFA
Monday, June 5, 2023 2:24 PM EDT
Under the hood, the actual average work week contracted to 34.3 hours and is back to January 2020 levels.
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Credit Card Debt On The Rise
Article By: Martin Armstrong
Monday, June 5, 2023 2:12 PM EDT
Credit card debt in the US spiked to its highest quarterly level in Q4 2022 after increasing by $85.8 billion.
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ISM Reports Add To U.S. Recession Fears
Article By: ING Economics
Monday, June 5, 2023 12:15 PM EDT
The U.S. may be adding jobs in huge numbers but the key ISM business surveys cast serious doubt on how long this can last.
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Where Is The S&P500 Headed For June?
Video By: Seasonax
Monday, June 5, 2023 12:03 PM EDT
Let’s see what the S&P500 is like from a seasonal perspective.
In this video: SPY, SPX
Watch
Weekly Market Pulse: Signal To Noise Ratio
Article By: Joseph Calhoun
Monday, June 5, 2023 11:26 AM EDT
There is more information available today to the average investor than ever but the signal-to-noise ratio is the lowest ever too.
In this article: NVDA, TSLA, IEF, IWD, IWF, SPY, UUP, META, GOOGL, XPL, XLF, XLI
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Nasdaq 100 Index: Morgan Stanley Sees A Moment Of Reckoning
Article By: Invezz
Monday, June 5, 2023 9:42 AM EDT
The Nasdaq 100 index continued its bullish rally as risks to the American economy eased. The index surged to a high of $14,557, the highest level since April last year. In all, the index has surged by more than 39% from the lowest level in 2022.
In this article: MS, QQQ, NDX
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Raising The Debt Ceiling Solves Very Little
Article By: Bruce Wilds
Monday, June 5, 2023 9:32 AM EDT
Now that the debt ceiling has been raised it appears we are all saved, or are we? While the market took a sigh of relief and started partying does not mean all is well.
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Dollar Gains Extended, Oil Steadies At Higher Levels
Article By: Marc Chandler
Monday, June 5, 2023 8:32 AM EDT
The US dollar has extended its post-employment gains today, helped by firmer rates and several countries seeing downward revisions from the preliminary May PMI. July WTI gapped higher after the Saudi Arabia announced a cut of 1 million barrels a day.
In this article: FXE, CYB, FXA, FXB, FXC, FXY, UUP
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Russell 2000 Breaks Free Of Congestion
Article By: Declan Fallon
Monday, June 5, 2023 7:40 AM EDT
It was a good day for markets, but it was the Russell 2000 that went on a bender, pushing itself out of its scrappy, multi-week base and slicing through its 200-day MA.
In this article: QQQ, IWM, SPY, SOX Also: NDX, SPX, SMH
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US Stock Futures Stable As Market Digests Strong Performance
Article By: The Private Banker
Monday, June 5, 2023 6:33 AM EDT
US stock futures showed little change on Monday, following a strong rally last week, with all major indexes finishing near breakeven.
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Small-Caps Catch Up…
Article By: Macro-Ops
Monday, June 5, 2023 6:26 AM EDT
In this week’s Dirty Dozen Chart Pack, we talk about stubborn bears, further upside in risk assets, the case for a small-caps catch up play, cover one sided positioning in bonds, pitch a homebuilder supply stock and a long ETHUSD trade, plus more…
In this article: BXC, IWM, BITCOMP, ETH-X
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