Market Overview

The Market In 5 Minutes: A Historic Meeting, A Gold Trade, Model 3 Deliveries And More

Share:
The Market In 5 Minutes: A Historic Meeting, A Gold Trade, Model 3 Deliveries And More
Related SPY
Dollar Mixed As EU Trade Spat Escalates
The Dow Averted Its Longest Losing Streak In 40 Years; Does It Matter?
Striking Options: 6/22 Trade Tariffs, Gold, And Equities (Seeking Alpha)

IN THE NEWS

KeyBanc’s store checks found Tesla (NASDAQ: TSLA) Model 3 deliveries tracking about 50 percent higher than projections and achieving “meaningful ramp.” Link

Fitbit (NYSE: FIT) was already on the rise Monday when Citron Research came out with a bullish report touting Fitbit as one of the best medtech companies in the industry and forecasting 130-percent upside. Link

U.S. President Donald Trump and North Korean leader Kim Jong Un pledged to work toward complete denuclearization of the Korean peninsula while Washington committed to provide security guarantees for its old enemy. Link

With the Federal Reserve virtually guaranteed to raise interest rates this week, investors are focused on how the U.S. central bank characterizes its monetary policy as borrowing costs return to more normal levels amid an ongoing economic expansion. Link

Whoever says investors aren’t excited about the prospect of thawing relations between North Korea and the world hasn’t been looking at South Korean construction stocks. Link

ECONOMIC DATA

The Federal Open Market Committee will begin its two-day policy meeting today.
US Core CPI (MoM) for May 0.20% vs 0.10% Est; Prior 0.10%. Core CPI (YoY) for May 2.20% vs 2.20% Est; Prior 2.10%
The Treasury is set to auction 4-week bills at 11:30 a.m. ET.
The Treasury will auction 30-year bonds at 1:00 p.m. ET.
The U.S. Treasury budget report for May will be released at 2:00 p.m. ET.

ANALYST RATINGS

Morgan Stanley upgrades Newmont Mining (NYSE: NEM) to Overweight
Morgan Stanley downgrades Barrick Gold (NYSE: ABX) to Underweight
Citigroup downgrades Seaworld (NYSE: SEAS) To Sell

This is a tool used by the Benzinga News Desk each trading day — it's a look at everything happening in the market, in five minutes. To get the full version of this note every morning, click here.

Posted-In: Citron Research Market in 5 minutesNews Short Sellers Global Top Stories Pre-Market Outlook Markets Best of Benzinga

 

Related Articles (FIT + ABX)

View Comments and Join the Discussion!