Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Indexes
  3. United States
  4. USA
  5. S&P 500
  6. News
  7. Summary
    SP500   US78378X1072

S&P 500

SummaryMost relevantAll NewsOther languagesNews of the index componentsMarketScreener Strategies

Stocks Climb, on Track for Fresh Records

06/11/2021 | 07:49am EDT

By Caitlin Ostroff

U.S. stocks rose Friday, pointing to the S&P 500 notching a fresh record following three straight weeks of gains.

The S&P 500 ticked up 0.1% a day after the market benchmark closed at a record high. The Dow Jones Industrial Average rose 0.3%, and the Nasdaq Composite gained 0.1%.

The major indexes are hovering close to record highs, leaving investors looking for any catalysts that may propel the next leg in what has been a sharp rally since the March 2020 rout. Fresh spending plans by the Biden administration that could result in higher taxes, as well as stocks' high valuations and the emergence of new Covid-19 variants, are making people more cautious. Money managers are also weighing whether the rise in inflation is likely to be transitory.

"We're still positive on the outlook, but we're not as optimistic as we were three months ago," said Daniel Morris, chief market strategist at BNP Paribas Asset Management. "The market needs to take a breather and let earnings catch up to where prices are."

Ahead of the New York opening bell, some meme stocks that are heavily traded by individual investors rose. AMC Entertainment Holdings rallied more than 4% and GameStop jumped over 5%. Shares in Clover Health Investments, a new darling of Reddit's WallStreetBets forum, also added about 3% premarket.

In bond markets, the yield on the 10-year Treasury note ticked up to 1.459%, from 1.458% Thursday, which was its lowest since March 2. Yields rise when prices fall. The yields had been dragged down for three straight days by tepid economic data and high demand from investors both in the U.S. and elsewhere.

The Labor Department on Thursday said the U.S. economic rebound is driving the biggest surge in inflation in nearly 13 years, with consumer prices rising in May by 5% from a year ago. Investors have been concerned for some weeks that a sharp and sustained rise in inflation may prompt the Fed to weigh ending its easy money policies in coming quarters. More recently, the market's inflation expectations have abated, but it remains a focus point for many people.

"Inflation clearly is the big risk out there," said Edward Park, chief investment officer at U.K. investment firm Brooks Macdonald. "Some of the teeth have been softened over the last 24 hours, but there is still the risk that the Fed comes out and says maybe this is more sustained, and that changes the narrative, so central banks are still very much a thing to watch."

Investors will get fresh data indicating whether Americans' outlook for the economy has improved when the University of Michigan's preliminary index of consumer sentiment for this month is released at 10 a.m. ET.

Overseas, the pan-continental Stoxx Europe 600 rose 0.7% after closing Thursday at an all-time high.

Major stock indexes in Asia closed on a mixed note. The Shanghai Composite Index declined 0.6%. South Korea's Kospi Index rose 0.8%, while Hong Kong's Hang Seng Index added almost 0.4%.

Write to Caitlin Ostroff at caitlin.ostroff@wsj.com

(END) Dow Jones Newswires

06-11-21 0949ET

Stocks mentioned in the article
ChangeLast1st jan.
AMC ENTERTAINMENT HOLDINGS, INC. 15.39% 49.4 Delayed Quote.2,230.19%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.53% 0.7706 Delayed Quote.0.69%
BRITISH POUND / US DOLLAR (GBP/USD) -0.45% 1.41056 Delayed Quote.3.63%
BROOKS MACDONALD GROUP PLC -1.34% 2210 Delayed Quote.34.55%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.00% 0.8222 Delayed Quote.5.28%
CLOVER HEALTH INVESTMENTS, CORP. 4.81% 15.03 Delayed Quote.-10.38%
DJ INDUSTRIAL 0.04% 34479.6 Delayed Quote.12.61%
EURO / US DOLLAR (EUR/USD) -0.53% 1.2108 Delayed Quote.-0.34%
GAMESTOP CORP. 5.88% 233.34 Delayed Quote.1,138.54%
HANG SENG 0.48% 28848.85 Real-time Quote.5.94%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.00% 0.013654 Delayed Quote.-0.09%
KOSPI COMPOSITE INDEX 0.53% 3246.91 Real-time Quote.13.12%
NASDAQ COMP. 0.35% 14069.423379 Delayed Quote.9.16%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.04% 0.7122 Delayed Quote.0.11%
S&P 500 0.19% 4247.44 Delayed Quote.13.08%
S&P/CITIC 300 INDEX 0.00% 4675.13 Delayed Quote.1.78%
S&P/CITIC 50 INDEX 0.04% 4673.81 Delayed Quote.0.21%
STOXX EUROPE 600 0.65% 457.51 Delayed Quote.14.66%
STOXX EUROPE 600 NR 0.65% 1022.59 Delayed Quote.16.26%
All news about S&P 500
06/11Amazon Got Us Hooked on One-Day Delivery -- Now Small Businesses Are Paying f..
06/112020 BMW M2 CSá : A Coupe That Comes Alive at the Race Track
06/11Apple Subpoenas Prompt Internal Review, Calls for William Barr, Jeff Sessions..
06/11Apple Subpoenas Prompt Internal Review, Calls for William Barr, Jeff Sessions..
06/11S&P ekes out gains to end at record high
06/11Apple Subpoenas Prompt Internal Review, Calls for William Barr, Jeff Sessions..
06/11US Stocks Rise Late Friday, Pushing S&P 500 to New Record as Oil Hits Three-Y..
06/11CLOSE UPDATE : US Stocks Rise Late Friday, Pushing S&P 500 to New Record as Oil ..
06/11Consumer Shares Rise Amid Stronger Consumer Sentiment -- Consumer Roundup
06/11Amazon, Other Tech Giants Could Be Forced to Shed Assets Under House Bill -- ..
More news
Chart S&P 500
Duration : Period :
S&P 500 Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends S&P 500
Short TermMid-TermLong Term
Top / Flop S&P 500
V.F. CORPORATION 82.13 Delayed Quote.4.56%
PVH CORP. 113.04 Delayed Quote.3.97%
TAPESTRY, INC. 44.3 Delayed Quote.3.70%
THE GAP, INC. 32.31 Delayed Quote.3.19%
NASDAQ, INC. 172.95 Delayed Quote.2.73%
SL GREEN REALTY CORP. 82.65 Delayed Quote.-2.96%
ELI LILLY AND COMPANY 224.09 Delayed Quote.-4.05%
BIOGEN INC. 396.64 Delayed Quote.-4.36%
INCYTE CORPORATION 82.58 Delayed Quote.-5.66%
VERTEX PHARMACEUTICALS 193.02 Delayed Quote.-10.96%
Heatmap :