Dow was off 1, advancers over decliners about 2-1 & NAZ gained 45. The MLP index added 1+ to the 222s & the REIT index added 2 to the 365s. Junk bond funds egded higher & Treasuries, saw a little selling, raising yields (more below). Oil slid back to under 72 & gold was steady at 1994.
AMJ (Alerian MLP Index tracking fund)
Apple (AAPL), a Dow & NAZ stock, CEO Tim Cook
introduced a series of new products at its annual Worldwide
Developers Conference, including the augmented reality headset
Vision Pro. Made from lightweight material & 3-dimensional glass, the headset
can be used at work or home & offers an immersive platform capable of
combining apps, visuals & personal surroundings in panoramic views. Cook said the Vision Pro was "a new kind of computer that augments
reality by seamlessly blending the real world with the digital world." "It’s
the first Apple product you look through and not at," he continued.
"Vision Pro feels familiar, yet it’s entirely new. You can see, hear and
interact with digital content just like it’s in your physical space." Users can browse by looking, select with the tap of their finger &
scroll by the flick of their hand, while voice input allow seamless
dictation. "In the same way the Mac introduced us to personal computing, an iPhone introduced us to mobile computing, Apple Vision Pro will introduce us to spatial computing," Cook said. "This marks the beginning of a journey that will bring a new dimension to powerful personal technology," he added. In addition to the Vision Pro, AAPL introduced the new iOS 17 with
updates to the phone, messaging & Facetime apps, including Contact
Posters, Live Voicemail & transcribed audio messages. The tech company also unveiled the 15" MacBook Air, which features 50% more battery life & a universal clipboard. AAPL fell 1.43.
If you would like to learn more about AAPL, click on this link:
club.ino.com/trend/analysis/stock/AAPL_aid=CD3289&a_bid=6aeoso5b6f7
Apple unveils augmented reality headset and more at WWDC
Motorists kicked off the unofficial start of the summer road trip
season this Memorial Day with little movement in gas prices, but that
could change as the summer advances, according to AAA. The national average cost for a gallon stayed steady from last week
at $3.57, as demand for gas & oil prices fell, even as more than 37M Americans drove to their destinations on the holiday weekend. Gas demand dropped to 9.1M barrels a day from
9.43M last week as domestic gasoline stocks decreased slightly to
216M barrels of crude oil, according to Energy Information
Administration (EIA) data. This drop in demand has helped keep prices
from increasing. "Although millions hit the road last
weekend, gasoline demand fell," AAA spokesperson Andrew Gross said.
"Meanwhile, the cost for a barrel of oil dropped below $70 per barrel. "Pump prices could dip further as the start of summer approaches," Gross continued. Memorial Day kicks off what is typically a volatile time for gas prices, according to GasBuddy. However, gas prices will likely register well below last year when the
national average started to soar after Memorial Day on its way up to the
$5 per gallon mark.
Gas prices stay neutral to kick off summer, but there's a chance for a decrease in the forecast: AAA
Treasury yields were little changed as investors considered what could be on the horizon for the economy & Federal Reserve monetary policy. The yield on the 10-year Treasury was up by less than 1 basis point at 3.697% & the 2-year Treasury yield was trading by 1 basis point higher at 4.293%. Yields & prices have an inverted relationship & one basis point is equivalent to 0.01%. Investors reflected on recent economic developments, including the debt ceiling crisis that was resolved on Fri before the US defaulted on it its debt obligations. They also considered what could be next for the economy, including prospects of a recession or further interest rate hikes by the Federal Reserve. Recession fears were swayed slightly by last week's May jobs report, which showed that payrolls rose by much more than expected during the month, reflecting resilience in the economy. However, it prompted some investors to believe that the Fed would tighten monetary policy further as the central bank first started hiking interest rates in an effort to cool the economy, including the labor market. Central bank officials have repeatedly said that their policy decisions will likely depend on upcoming data. The Fed is set to make its next interest rate policy announcement on Jun 14, just a day after the latest consumer inflation data is expected.
Treasury yields are little changed as investors weigh economic outlook
Stocks are meandering again, looking for direction. Fed's meeting next week will likely drive the market.Dow Jones Industrials
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