The Dow Jones index has simply notched its fifth-straight constructive month to shut June this afternoon, gaining 211 factors, or +0.62%. This led all main indexes on this in any other case somewhat tepid buying and selling day (summer time hours, and so on.).
The S&P 500 managed to notch one other document closing excessive, +0.13%, however the Nasdaq, -0.17%, was unable to observe go well with this time. The small-cap Russell 2000 — the index chief via the primary half of an exceptionally profitable 2021 — gained simply 0.07% on the day.
We noticed an sudden increase in Pending Residence Gross sales for Might at present, following a record-shattering April that gained 51.7% yr over yr. Might was up one other 13.1%, although these replicate low base impact circumstances in yearly comparisons to the center of pandemic circumstances.
In any case, Pending Residence Gross sales gained 8.0% month over month, much better than the -1.0% anticipated, on reducing mortgage charges and the next quantity of listings within the market.
Chicago Buying Managers’ Index (PMI) fell in June, and much more than anticipated: 66.1 was south of the 70.Zero analysts had been in search of and the 75.2 reported for Might (in addition to 72.1 in April). That mentioned, these spring ranges characterize the best Chicago PMI on document. And even contemplating this, the survey got here in hotter than every other month we’ve seen going again to 2018, so we’re nonetheless seeing robust figures.
Semiconductor reminiscence main Micron MU launched fiscal Q3 outcomes after at present’s closing bell, posting better-than-expected numbers on each prime and backside strains: $1.88 per share was properly forward of the $1.71 within the Zacks consensus, and nicely past the 82 cents per share reported within the year-ago quarter. Revenues of $7.42 billion had been a pleasant beat from the $7.24 billion anticipated, which itself was a 33% acquire yr over yr.
Upward steering to its This autumn prime and backside strains was an added plus, on better-than-expected gross margins of 42.9%. The corporate has solely posted one detrimental earnings shock prior to now 5 years. Nonetheless, as a result of the corporate shouldn’t be acting at NVIDIA NVDA-like ranges, shares of Micron have dipped 1.7% in late buying and selling. This follows a 2.5% acquire in at present’s common session. The inventory is up 14.76% yr thus far and +71% yr over yr.
Questions or feedback about this text and/or its writer? Click on right here>>
Bitcoin, Just like the Web Itself, May Change All the things
Blockchain and cryptocurrency has sparked some of the thrilling dialogue matters of a era. Some name it the “Web of Cash” and predict it might change the way in which cash works without end. If true, it might do to banks what Netflix did to Blockbuster and Amazon did to Sears. Consultants agree we’re nonetheless within the early levels of this expertise, and because it grows, it’ll create a number of investing alternatives.
Zacks’ has simply revealed three firms that may assist traders capitalize on the explosive revenue potential of Bitcoin and the opposite cryptocurrencies with considerably much less volatility than shopping for them immediately.
See three crypto-related shares now >>
Click on to get this free report
Micron Know-how, Inc. (MU): Free Inventory Evaluation Report
NVIDIA Company (NVDA): Free Inventory Evaluation Report
SPDR S&P 500 ETF (SPY): ETF Analysis Studies
To learn this text on Zacks.com click on right here.
Zacks Funding Analysis
Need the newest suggestions from Zacks Funding Analysis? At present, you possibly can obtain 7 Greatest Shares for the Subsequent 30 Days. Click on to get this free report
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.