Market Report Jun 09 2023
Keeping in alignment with recent trends, the market exhibited good performance on Thursday, predominantly propelled by mega-cap stocks in the early hours, despite some vulnerability in the broader market. A wider spectrum of stocks began to participate in the upward momentum towards the session end.
U.S. weekly initial unemployment claims rose +28,000 to a 19-month high of 261,000, showing a weaker labour market. The expectations were 235,000.
Some sectors exhibiting strong performance included XLK and XLY. Below are the gainers from there and some of the stocks we own.
VIX continued to fall.
TSLA getting ready to test Nov 2022 highs after making a new high YTD.
In fact, TSLA has made a new high 20 times YTD. For some context, the S&P 500 had made a new high 18 times YTD.
Let's go trade!
