AllMarket Update
logoArgusJune 10, 2021

Market Update: CPB, PEP, STX, THO

Technology, Consumer Defensive, Consumer Cyclical

Stocks rose modestly on Thursday morning following new consumer price and employment data. The Labor Department said that its consumer price index rose 0.6% in May, above the consensus forecast of 0.4% growth though down from 0.8% in April. The core CPI, excluding food and energy, also rose 0.7% last month after a jump of 0.9% in April. On the employment front, first-time claims for state unemployment benefits fell to 376,000 for the week ended June 5, down from 385,000 a week earlier but slightly above the Bloomberg consensus of 370,000. The Dow, the S&P, and the Nasdaq were all up about 0.3%. Crude oil rose slightly to $70 per barrel, while gold traded near $1891 per ounce.

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