Daily Chart Report 📈 Thursday, June 1, 2023

June 1, 2023

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Today’s Summary
Thursday, June 1, 2023

Indices: Nasdaq +1.31% | Russell 2000 +1.05% | S&P 500 +0.98% | Dow +0.47%

Sectors: 9 of the 11 sectors closed higher. Communications led, rising +1.35%. Utilities lagged, dropping -0.74%.

Commodities: Crude Oil futures gained +2.95% to $70.10 per barrel. Gold futures rose +0.68% to $1,996 per oz.

Currencies: The US Dollar Index dropped -0.64% to $103.56.

Crypto: Bitcoin fell -1.20% to $26,893. Ethereum inched lower by -0.31% to $1,868.

Interest Rates: The US 10-year Treasury yield fell for the fifth consecutive day to 3.599%.

Here are the best charts, articles, and ideas being shared on the web today!

Chart of the Day

Today’s Chart of the Day was shared in a note by Jeff Hirsch of The Stock Trader's Almanac. The chart show June's intra-month seasonal pattern for the Dow (red), S&P 500 (green), Nasdaq (blue), Russell 1000 (purple), and Russell 2000 (black). June hasn't been very bullish over the past 21-years (solid lines) with four of the five major indices showing negative average returns. However, Jeff points out that June's seasonal pattern significantly improves during pre-election years like 2023 (dashed lines). In pre-election years, all five indices have historically ended the month higher. The Nasdaq has been the strongest, gaining more than 2% on average. The Dow has been the weakest, but it still gained more than 1% on average. For more on June seasonality, check out the full note here.