At-a-Glance
Key Takeaways with Ryan
Equity markets saw a positive day today with the Russell leading the way higher being up over 1.5% on the session. For the S&P and Nasdaq, this was the third session in a row with a higher high, and the 200-day moving average has acted as a floor in these markets since the breakout higher on May 12th. CPI numbers came out for Europe and came in worse than expected, and then the JOLTs data released later in the day was a better than expected figure and equites saw prices rise throughout the day.
Outside markets also saw movement today with Crude Oil strength continuing up over 1% on the session and closing out above the 50-day moving average for the July contract. The Crude Oil market has not seen the recovery that equities did from the breakdown in early April, and are still trading below the breakdown point. Along with Crude Oil, crypto futures had a strong day today, with XRP trading up over 4% and Solana and Ether both rising over 2.5% on the session. Tomorrow traders will get a look at ADP Nonfarm Employment Change along with manufacturing data before the critical jobs data at the end of the week.
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