Good morning contrarians! Welcome to the Daily Contrarian, our morning look at events likely to move markets. It is Thursday, June 6. The Bottom Line segment of today’s podcast starts at (2:47) for listeners who want to skip ahead. Be sure to check out the new ‘One Year Ago Today’ segment at the bottom of this page.
State of Play
Stocks rallied yesterday. The S&P 500 (SPY 0.00%↑) closed at a fresh record high but tech led things with the Nasdaq setting a new record as well thanks to more hype around Nvidia (NVDA 0.00%↑). As we look at our board of indicators at 0640, all is pretty quiet:
Stock index futures are flat. Only the Russell 2000 which tracks small caps is moving at all from the break-even point, down 0.4%;
Commodities aren’t doing much either. WTI crude oil is up 0.5% to trade around $74.50/barrel. Copper is up 0.5%;
Cryptos are also flat. Bitcoin trades around $70,900;
Bonds are also unchanged. The 2-year yields 4.73% whilst the 10-year yields 4.29%.
Listen to this episode with a 7-day free trial
Subscribe to Contrarian Investor Premium to listen to this post and get 7 days of free access to the full post archives.
