Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

G-7, Consumer Sentiment, Record Week: 3 Things to Watch

Stock MarketsJun 10, 2021 16:13
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Christiana Sciaudone

Investing.com -- Inflation, shminflation. Traders dismissed inflation data that came in above expectations to drive stocks higher on Thursday.

It was the data everyone had been eyeing this week. The Labor Department said on Thursday its consumer price index rose 0.6% last month after edging up 0.9% in April. The uptick in consumer prices in May lifted the year-on-year increase in the CPI to 5% from 4.2% in April, the highest rate since the 1980s. Investors are going with the Fed's position that it's a passing phase.

Starbucks (NASDAQ:SBUX) appears to be running out of supplies, like so many industries (chips!) out there (are we sure about that transitory inflation, Fed?), The New York Times reported.

GameStop Corp (NYSE:GME) continued to do its meme thing, dropping 25% after saying it will sell yet millions more in shares, taking full advantage of retail investors.

Here's to another slow summer close to the week. Have a good one, people

Here are three things that could affect markets tomorrow:

1. Let's chat

Leaders from the G-7 nations start their meeting in Cornwall, England. President Joe Biden is making his first trip to the U.K. during his administration. He and his counterparts are expected to discuss the economic rebound from the pandemic.

2. Feeling sentimental

After today's highly-anticipated inflation numbers, Friday's economic data release is the decidedly less sexy University of Michigan consumer sentiment reading. The initial June print is expected to come in at 84.2, a slight bump from the prior 82.9. The number will be released at 10:00 AM ET (1400 GMT).

3. Another record?

U.S. stocks will look to close out the week on another high note. Investors shrugged off the latest signs of inflation to send the S&P 500 to a fresh record and the Nasdaq was near its April highs on Thursday.

 

G-7, Consumer Sentiment, Record Week: 3 Things to Watch
 

Related Articles

2 Oversold TSX Leaders to Buy Now
2 Oversold TSX Leaders to Buy Now By The Motley Fool - Jun 19, 2021

The Fed-induced selloff in recent days is giving investors a chance to buy some top TSX stops at undervalued prices. What happened? The U.S. Federal Reserve indicated markets...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email