EB Daily Market Report - Brief Update - Thursday, May 16, 2024
Just a very quick update to point out a couple things.
Spring Special and Portfolio Draft
Tonight will kick off our Spring Special, which is our BEST deal of the year. Here's the deal:
Our Portfolio Draft will begin at 5:30pm ET. Room instructions were sent out separately. I hope to see you there!
Market Update
I'm prepping for tonight's DRAFT and really haven't followed the market too closely. I know that our major indices are fairly flat. The 10-year treasury yield ($TNX) has moved slightly higher, putting a bit of pressure on the small cap stocks (IWM, -0.62%).
There's a mixture of leadership with consumer staples (XLP, +1.61%) leading to the upside, while materials (XLB, -0.63%) lag the field. 5 sectors are higher, 6 are lower. Technology (XLK, -0.26%) is taking a breather after leading market action much of May.
Crude oil ($WTIC, +0.83%) has risen back above $79 per barrel, but many other commodities are lower.
I hope to see you later today!
Happy trading!
Tom