Schaeffer's 43rd Anniversary Stock Picks in 2024

S&P 500, Nasdaq 4 for 4 With Record Closes This Week

The VIX closed below 12 for the first time since mid May

Managing Editor
Jun 13, 2024 at 4:25 PM
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The Nasdaq and S&P 500 marked their fourth-straight record close today, climbing once again on the back of upbeat inflation data. The PPI for May dropped to 0.2% from April, giving inflation watchers more space to breathe. The Dow suffered another loss, its third in a row, while Wall Street's "fear gauge," the Cboe Volatility Index (VIX) logged its lowest close in three weeks.

Continue reading for more on today's market, including:

  • What's going on with GameStop stock?
  • Best type of spreads for options traders.
  • Plus; Broadcom's breakout; energy giant to watch; and a cyber stock 'buy' signal.

Closing Indexes Summary June 13

NYSE and Nasdaq Stats June 13

5 Things to Know Today 

  1. Current Republican presidential nominee Donald Trump is receiving criticism after suggesting a swap of international tariffs for the elimination of income tax. (MarketWatch)
  2. John R. Tyson, great grandson of Tyson Foods (TSN) founder John W. Tyson, was suspended from his post as chief financial officer after a second drinking related infraction with the law. (CNBC)
  3. How Broadcom stock scaled the S&P 500 today.
  4. Analyst changes its tune on energy stock.
  5. Cybersecurity stock has room to run.

Corporate Earnings June 13

Unusual Options Activity June 13

Oil and Gold Shift Lower on PPI and Inventory Data

On the back of an unexpected jump in gas and oil prices, crude futures sank for today's trading. Nevertheless, July-dated West Intermediate (WTI) crude managed shed  71 cents, or 0.9%, to close at $77.79 per barrel.

PPI data pushed gold into the red today amid possible profit-taking. The now most-active, August-dated commodity closed off 1.5% near $2,318.90 an ounce.

 

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