US Stocks Wobble On Inflation Worries - Kalkine Media

June 09, 2021 07:49 AM AEST | By Sanjeeb Baruah
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US stocks saw subdued trade in Tuesday’s session, with all major indices ending flat as inflation worries weighed on the markets.

The S&P 500 was up 0.02% to 4,227.26. The Dow Jones declined 0.09% to 34,599.82. The NASDAQ Composite gained 0.31% to 13,924.91. The Russell 2000 was up 1.06% to 2,343.76.

Besides inflation worries, the US economy's skewed demand and supply balance are apparently forcing the markets to pull back. The stress was palpable in most stock segments.

However, six of the 11 critical sectors on the S&P 500 index saw modest gains despite a subdued mood in the markets, with stocks moving up and down for most of the day.

Consumer discretionary and energy stocks were the biggest gainers, while the utility segment was among the bottom movers. Meanwhile, meme stocks continued to see high interest among retail investors. Shares of GameStop Corp. (GME) was up over 7% at the market close, while the stock of AMC Entertainment Holdings, Inc. (AMC) was trading flat.

                       

Global Market Round Up || US Stocks Wobble On Inflation Worries; FTSE 100 Ended Marginally Higher

 

Tech-savvy NASDAQ saw moderate gains after Amazon.com Inc. (AMZN) and Apple Inc. (AAPL) gave a modest boost. AMZ was up 0.27%, and AAPL gained 0.67%. However, Microsoft Corp., and Facebook, Inc. declined 0.25% and 0.88%, respectively.

Financial services provider BlockFi Lending LLC is said to be in talks with investors to raise around US$5 billion. Its clients include cryptocurrency holders.

Small-cap companies largely remained in the positive territory over the past few sessions, backed by retail traders who appeared ready to take more risks with the economy’s recovery. Clover Health Corp. (CLOV) jumped over 85% after it popped up on social forums.

Bed Bath & Beyond Inc, (BBBY) surged gained 8%, while Workhorse Group surged over 11%.

In the crypto world, Coinbase Global, Bitcoin, and Ethereum shed 4.27%, 7.58%, and 8.64%, respectively.


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Top Gainers      

Top performers on S&P 500 included Generac Holdings Inc (6.32%), NRG Energy Inc (4.46%), News Corp (3.78%), Albemarle Corp (3.06%). On NASDAQ, top performers were Clover Health Investments Corp (85.82%), NextDecade Corp (59.77%), AST SpaceMobile Inc (51.37%), ContextLogic Inc (49.87%). On Dow Jones, Chevron Corp (0.91%), Honeywell International Inc (0.71%), IBM Corp. (0.71%), Apple Inc (0.67%) were the leaders.

Top Losers

Top laggards on S&P 500 included Organon & Co (-7.99%), Micron Technology Inc (-4.18%), CMS Energy Corp (-3.93%), Discovery Inc (-3.84%). On NASDAQ, Opera Ltd (-23.34%), HOOKIPA Pharma Inc (-19.25%), Jiuzi Holdings Inc (-17.18%), Lordstown Motors Corp (-16.27%). On Dow Jones, Procter & Gamble Co (-1.16%), Walgreens Boots Alliance Inc (-1.03%), Goldman Sachs Group Inc (-0.89%), Johnson & Johnson (-0.88%) were the laggards.

Volume Movers

Top volume movers were Huntington Bancshares Inc (71.69M), Apple Inc (16.62M), Ford Motor Co (14.87M), AT&T Inc (12.90M), General Electric Co (10.96M), Bank of America Corp (9.54M), Microsoft Corp (8.30M), Clover Health Investments Corp (118.61M), ContextLogic Inc (29.67M), TCF Financial Corp (26.66M), Naked Brand Group Ltd (15.71M), Sirius XM Holdings Inc (15.21M), and Wendys Co (14.92M).

Also Read: Which Are The Top 10 Automakers Listed In US?

Futures & Commodities

Gold futures were down 0.19% to US$1,895.25 per ounce. Silver decreased 1.03% to US$27.730 per ounce, while copper was up 0.35% to US$4.5425.

Brent oil futures remains same at US$72.11 per barrel and WTI crude was up 1.16% to US$70.03.

Bond Market

The 30-year Treasury bond yields were down 1.42% to 2.220, while the 10-year bond yields decreased 2.03% to 1.538.

US Dollar Futures Index slightly increased 0.20% to US$90.127.


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