Jobs Falling, Producer Prices Climbing | Herd on Wall Street
Morning mooers! It is Wednesday, the market is open and chugging away. My name is Kevin Travers, the air quality in the New York Metro Area is making me wheeze, here are stories heard on a Wall Street today.
(I took a boat trip on memorial day lol)
$ASML Holding (ASML.US)$ was the highest gainer on the Nasdaq 100, up 6% after a Jefferies analyst upgrade pointed to hopefully a partnership between ASML and $Taiwan Semiconductor (TSM.US)$, the world's largest producer of chips.
$Hewlett Packard Enterprise (HPE.US)$ was the highest gainer on the S&P 500, up 13% after the firm reported AI-fueled revenue growth for its Q2.
$CrowdStrike (CRWD.US)$ was climbing about 4% after earnings and Q2 revenue above estimates.
By industries tracked by moomoo, 'Semiconductor Equipment' was climbing 4.7% following AMSL, led by a smaller firm $Axcelis Technologies (ACLS.US)$, climbing 9% after a price raise from Bank of America Global Advisors.
$Crude Oil Futures(JUL4) (CLmain.US)$ climbed back up just 0.23% after an OPEC+ meeting Sunday, where the cartel agreed to extend production cuts to the end of 2025.
Gold climbed 0.80%, while Silver prices traded up 0.66% after a five day drop of 4%. Bitcoin was trading flat.
As a general recap, indexes were mixed, and the market looked flatter on Wednesday. Just after 10:30 AM EST, the $S&P 500 Index(.SPX.US$ traded +0.39%, the $Dow Jones Industrial Average(.DJI.US$ fell 0.26%, and the $Nasdaq Composite Index(.IXIC.US$ climbed 0.97%.
By direction, 6000 equities climbed, while 4700 fell.
In macro, investors watched the release of the ISM Non-Manufacturing PMI, which showed that non-Manufacturing prices declined 58.1 vs 59 expected, while the Purchasing Managers Index climbed higher than forecast, at 53.8 vs. 51 expected, and 49 last month. S&P PMI came out concurrently, right as expected 54.8, climbing from 51.3 last month.
Nonfarm Employment numbers came in from ADP, showing employers added 152k workers in May, down from 192k added in April.
On Monday, investors weighed JOLTS job openings, which showed vacancies dropped 1.8M to 8.1M, according to the Bureau of Labor Statistics.
In macro this week, investors will watch for Initial jobless claims, non-farm payrolls, and unemployment data.
The $U.S. 2-Year Treasury Notes Yield(US2Y.BD$ was 4.77, and the $U.S. 10-Year Treasury Notes Yield(US10Y.BD$ was flat at 4.33.
Yesterday, Users were watching construction companies, retail; stocks, and calling out cons and scams
Mooers, what are you watching today? Comment below and I may feature your comment tomorrow!
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Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
Fmr CNBC contributor, reporter/investor/trader
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lcsiong1873 : I'm still waiting for baitless fishing!
RDK79 : There’s no such thing as good economy news these days, chaos induced journalism rules.
103129616 : thanks bro