At-a-Glance
Key Takeaways with Ryan
Markets were a bit slow today relative to the volatility seen throughout April and May, with equity indices seeing mixed results between slightly higher and slightly lower. There was a good slate of economic data today, but the story today was the ADP Nonfarm Employment Change, which came in significantly lower than expected at 37k while the expected was 111k. Although the equities did not have much movement today, the 10-year yield futures moved sharply lower, finishing the session down over 2%.
While equities and metals were relatively quiet today, the Crypto markets saw selling pressure across the board, with Solana leading the way lower being down 3.3%. The Bitcoin contract saw a new all time high on May 22nd at $112,330, and since then the sellers have been in control bringing the price down near the previous all time high levels. For the rest of the week, we will see critical data including Average Hourly Earnings, Nonfarm Payroll, and the Unemployment Rate released Friday as the S&P and Nasdaq approach the all time prices.
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