June 3, 2021

June 3, 2021

Stocks closed down today despite traders absorbing two better-than-expected reports on the labor market, which suggested rehiring activity in the U.S. was beginning to pick up more strongly during the recovery.

 

Dow Jones finished -23 at 34,577

S&P 500 finished -15 at 4,192

NASDAQ finished -142 at 13,614

 

The 10 Year Treasury closed up 3 basis points yielding 1.63%

Oil prices closed up $0.02 ending at $68.85 a barrel.

Gold prices closed down $36.90 ending at $1,873 an ounce.

 

In the days’ stock news:

 

  • AMC Entertainment closed down more than 18% after they said they may offer and sell up to 11.55 million shares of its Class A common stock. Additional shares dilute the value of the existing stock for shareholders.
  • Ford closed up 7.3% after they unveiled a new compact pickup truck called Maverick, which Ford expects to go on sale by the end of the year. The company hopes the addition to its truck lineup will attract more West Coast customers.

 

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