Tuesday 1 June 2021

Cheerleaders at the same desk

US equity indexes closed fractionally mixed, SPX -2pts (0.05%) at 4202. Nasdaq comp' -0.1%. Dow +0.1%. The Transports settled +0.1%.

SPX - daily5

VIX - daily3

Summary

US equities began the month on a positive note, although the gains were shaky from the start, with the Nasdaq leading the way back lower... if only fractionally.

Meanwhile...

One desk, three cheerleaders.


Having not watched any clown finance TV in two full weeks (I do recommend such a break), it was a curious sight to see the Sorkin, Ms. Quick, and the Kernan, at the same desk. 

However, any such 'return to normalcy' won't be welcomed by all, not least big pharma', with Abbott Labs (ABT) guiding lower on a reduced demand outlook for C19 tests.

The afternoon saw considerable chop, with the SPX settling fractionally lower.

Volatility picked up... if only a little, the VIX settling +6.8% to 17.90.
-

Air traffic is on the climb... if only a little.


Summer solstice is (disturbingly) not far away


Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
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