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Key News + Explanations

Here’s where the jobs are for May 2024 — in one chart

  • The U.S. economy added 272,000 jobs for the month, coming out significantly higher than the Dow Jones consensus estimate of 190,000.

  • Employment swung higher in several industries, with health care leading the way again this month, followed by government and hospitality. These sectors also accounted for more than half of the month’s total gains.

  • Meanwhile, job losses occurred in department stores and furniture and home furnishings retailers.

Mortgage Rates Drift Below 7% | June 2024 Rates Forecast

Mortgage experts make their predictions! The average 30-year fixed-rate mortgage (FRM) fell from 7.03% on May 30 to 6.99% on June 6, according to Freddie Mac.

“Mortgage rates retreated this week given incoming data showing slower growth,” said Sam Khater, Freddie Mac’s chief economist.

Rates Will Moderate Means:

  • Rates are expected to change, but the change will be towards more stable or less extreme levels. Rates could change, but if they do it will not be a drastic.

Market Movers + Analysis

S&P500 + NASDAQ

CRWD - Crowdstrike | GDDY- Godaddy | KKR - Kohlberg Kravis Roberts

  • All are joining the S&P 500

  • GoDaddy and CrowdStrike Will Join the S&P 500 Later This Month. CrowdStrike Holdings, GoDaddy and KKR & Co. is replacing Illumina , and investment firm KKR is replacing Robert Half. All three will join the index before the stock market opens on June 24. (Sourced at www.barrons.com)

  • CRWD moved +15% Friday afterhours.

$GME - Gamestop

  • Trendy stock. Our discord made some money from their moves in the last week or so.

  • If $27 becomes resistance the run could be over in the near term. Now 28.

$NVDA 10-1 split starts on Monday.

  • I am expecting smaller moves from NVDA. Prices for options may be juiced to start off as many people will be looking to trade options on a company that just split.

  • Juiced meaning potentially over priced compared to past prices.

General Financial Education

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Profits

Stock Market Trading

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/ES-mini

  • If 5360-70 hold resistance we could retest 5330. Though we could get a short term bounce at 5330, I think if the general market is weak which means $GME may be strong, We could test 5300s before finding support.

  • If we are closing above 5330, I would remain shrot term bullish.

$TSLA

  • $170 needs to hold or else 140 comes. June 13th.

  • $TSLA will be voting for Elons salary package. He wants more control. I think if they give it to him, the reaction could be positive. If, not. We may seel selling pressure.

$CRWD

  • Key level is 373. Above this is 400. If we gap above it early in the week, wait to see where the stock finds balance.

$GME

  • This will be the last harrah for me as I made profit already. If $27 becomes resistance, this can put a pause to the gamestop bullish train.

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