AllMarket Update
logoArgusJune 10, 2021

Market Update: CPB, PEP, STX, THO

Sector(s)
Technology, Consumer Defensive, Consumer Cyclical
Summary

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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