S&P 500 Index

+11.75 (+0.30%)
StockTwits Share  Twitter Share  Facebook Share

The CML Close - Stocks rise, technology outperforms, Ukraine secures new export route, manufacturing production is shrinking  - 06-17-2022

Date Published:

Stocks rose continuing outsized moves after Thursday's abrupt drop and Wednesday's abrupt gain.

The Dow dropped while technology outperformed and crude oil fell. Ukraine has secured a new route to export its grains and has successfully delivered an 18,000-ton corn cargo to Spain.

SPX 3,674.84 +8.07 (+0.22%)
NASD 10,798.35 +152.25 (+1.43%)
DJIA 29,888.78 -38.29 (-0.13%)
R2K 1,665.69 +15.86 (+0.96%)
VIX 31.13 -1.82 (-5.52%)
Oil 110.48 -7.11 (-6.05%)

• Industrial production is slowing faster than estimates.

• Manufacturing production shrank last month, underperforming estimates for a gain.

• POTUS takes aim at inflation with largest change to US shipping law in two decades.

Headlines of the Day
Stocks Rise to Close Out a Volatile Week. Tech Stocks Lead.
The stock market largely gained on Friday, closing out a volatile week of trading. Stability in the bond market certainly helped.

Fed promises ‘unconditional’ approach to taking down inflation in report to Congress
Fed officials rolled out strong language Friday to describe their approach to inflation, promising a full-fledged effort to restore price stability.

POTUS Attempts to Curb Inflation With Law Aimed at Cutting Shipping Rates
Measure marks biggest change to US shipping law in two decades. President says law will ‘at least marginally’ reduce prices.

Ukraine Grain Exporters Carve Out New Route Via Baltic Sea
Spain receives 18,000-ton corn cargo trucked through Poland. Ukraine has searched for alternate export routes amid the war. The new shipping route may help ease Ukraine’s massive grain backlog.

US Junk-Bond Spreads Top 500 Basis Points in First Since 2020
Borrowers are paying up on new deals as recession fears rise.

Economic Data Results for 6-17-2022
United States Industrial Production (MoM)
Industrial production in the United States rose 0.2% from a month earlier in May of 2022 falling short of estimates of 0.4%, following an upwardly revised 1.4% growth in April.

United States Manufacturing Production
Manufacturing production in the US edged down 0.1% mom in May of 2022, the first decline in four months and missing market forecasts of a 0.3% rise.

Economic Data Due Tomorrow on 6-21-2022
Existing Home Sales MoM

Chicago Fed National Activity Index


The information contained on this site is provided for general informational purposes, as a convenience to the readers. The materials are not a substitute for obtaining professional advice from a qualified person, firm or corporation. Consult the appropriate professional advisor for more complete and current information. Capital Market Laboratories (“The Company”) does not engage in rendering any legal or professional services by placing these general informational materials on this website.

The Company specifically disclaims any liability, whether based in contract, tort, strict liability or otherwise, for any direct, indirect, incidental, consequential, or special damages arising out of or in any way connected with access to or use of the site, even if we have been advised of the possibility of such damages, including liability in connection with mistakes or omissions in, or delays in transmission of, information to or from the user, interruptions in telecommunications connections to the site or viruses.

The Company makes no representations or warranties about the accuracy or completeness of the information contained on this website. Any links provided to other server sites are offered as a matter of convenience and in no way are meant to imply that The Company endorses, sponsors, promotes or is affiliated with the owners of or participants in those sites, or endorse any information contained on those sites, unless expressly stated."