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💲 Noteworthy Stocks & Assets:
Carl Icahn sold his entire stake of 55.34M common shares in Hertz (NYSE:HTZ) for $0.72 per share. His six-year bet on Hertz cost him about $1.6B.
Weekly Market Movement Wrap
Dow +3.8% to 25,383. S&P 500 +3% to 3,044. Nasdaq +1.8% to 9,490. Russell 2000 +2.6% to 1,391. CBOE Volatility Index -2.3% to 27.51.
S&P 500 Sectors
Consumer Staples +2.9%. Utilities +4.9%. Financials +7.9%. Telecom -0.1%. Healthcare +2.1%. Industrials +6.7%. Information Technology +0.2%. Materials +4.6%. Energy +1.1%. Consumer Discretionary +1.3%.
London +1.4% to 6,077. France +5.6% to 4,695. Germany +4.6% to 11,587. Japan +7.3% to 21,878. China +1.4% to 2,852. Hong Kong +0.1% to 22,961. India +5.7% to 32,424.
Commodities and Bonds
Crude Oil WTI +6.3% to $35.34/bbl. Gold -0.2% to $1,731.6/oz. Natural Gas +6.2% to 1.839. Ten-Year Treasury Yield +0.1% to 139.33.
Forex and Cryptos
EUR/USD +1.85%. USD/JPY +0.19%. GBP/USD +1.46%. Bitcoin +2.6%. Litecoin +0.3%. Ethereum +6.%. Ripple -1.9%.
Top Stock Gainers
Arca Biopharma (NASDAQ:ABIO) +233%. Mersana Therapeutics (NASDAQ:MRSN) +127%. Esports Entertainment (OTC:GMBL) +107%. Navidea Biopharmaceuticals (NYSEMKT:NAVB) +106%. Adaptimmune (NASDAQ:ADAP) +89%.
Top Stock Losers
Minerva Neurosciences (NASDAQ:NERV) -75%. Canaan (NASDAQ:CAN) -41%. LA Jolla Pharma (NASDAQ:LJPC) -34%. Aerocentury (NYSEMKT:ACY) -32%. Arcturus Therapeutics (NASDAQ:ARCT) -28%.
Earnings spotlight: Dick’s Sporting Goods (NYSE:DKS), Tiffany (NYSE:TIF), CrowdStrike (NASDAQ:OTC:CRWD) and Zoom Video (NASDAQ:ZM) on June 2; American Eagle Outfitters (NYSE:AEO), Campbell Soup (NYSE:CPB), Canada Goose (NYSE:GOOS) and G-III Apparel (NASDAQ:GIII) on June 3; Broadcom (NASDAQ:AVGO), Ciena (NYSE:CIEN), DocuSign (NASDAQ:DOCU), Gap (NYSE:GPS), MongoDB (NASDAQ:MDB) and Slack (NYSE:WORK) on June 4: Kandi Technologies (NASDAQ:KNDI) on June 5
🎯 Stocks On Our Radar:
🏆 Quotes That Inspire Us:
“Never underestimate the power of stupid people in large groups.” – George Carlin
📖 Word Of The Week:
Anecdotal adj. Based on casual observations or indications rather than rigorous or scientific analysis: “There is anecdotal evidence that the stock will soon double in price.”
❔ Did You Know:
- A jar of Nutella is sold every 2.5 seconds across 75 countries. 🥜
📽 A Must Watch & Listen:
Barry Ritholtz speaks with David Rosenberg, who is president of Rosenberg Research & Associates Inc. From 2002 to 2009, he was chief North American economist at Merrill Lynch in New York.
📚 Books We Are Reading:
5 books on leadership and resilience Bill Gates thinks everyone should read this summer.
“The Choice” by Edith Eva Eger
“The Great Influenza” by John Barry
“Cloud Atlas” by David Mitchell
“The Ride of a Lifetime” by Robert Iger
“Good Economics for Hard Times” by Abhijit Banerjee and Esther Duflo
🤣 One Liners:
@sammorril: Just got disconnected from a friend on FaceTime and neither of us called the other one back. That’s real friendship.
📆 Upcoming Events:
- Psychedelics and Our Sense of Self: Implications for the Treatment of Depression
- June 30, 2020 - 11am EDT / 4pm BST / 5pm CEST
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