market update

U.S. markets closed higher on Monday following a 3-day weekend as Wall Street prepares for a light opening to 2Q earnings and the official start coming next week with the Financial sector. Better-than expected economic news and merger & acquisition headlines helped pushed the major indexes towards early and mid-June resistance levels.

U.S. markets showed strength throughout Thursday’s session following another blowout jobs report and a rebound in factory orders. Ongoing concerns over steadily rising coronavirus cases pulled the major indexes off their best levels but not before Tech tagged a fresh all-time intraday and closing high.

U.S. markets showed strength on Wednesday’s open as encouraging news on the coronavirus vaccine front lifted sentiment. A mixed bag of economic news kept the gains in check as Wall Street awaited the afternoon meeting minutes from the Fed.

U.S. markets opened slightly lower to start Tuesday’s session as mixed economic news weighed on sentiment. The losses were quickly recovered with tight trading ranges and consolidation forming afterwards as Wall Street awaited comments from Treasury Secretary Mnuchin and Fed Chairman Powell’s testimony to Congress.

U.S. markets rebounded to start the shortened holiday week as better-than-expected economic news outweighed ongoing coronavirus concerns. The gains helped keep 3-week trading ranges intact while pushing the major indexes back into positive territory for the month.

U.S. markets opened lower for the 2nd-straight session following another spike in coronavirus cases and an elevated weekly jobless claims number. News that the governor of Texas has halted the reopening of the economy was also a concern with the surge in cases possibly slowing the recovery nationally.

U.S. markets were weak throughout Wednesday’s action as major concerns over the growing number of coronavirus cases weighed on sentiment. A warning from the Texas Governor started the selling pressure after he implored residents to stay home as the state grapples with a surge in coronavirus cases and hospitalizations stemming from the disease.

U.S. markets showed strength to start Tuesday’s after the White House clarified overnight comments from trade adviser Peter Navarro who said that the trade deal with China is over. He linked the breakdown in part to China not sounding the alarm earlier about the coronavirus outbreak.

U.S. markets opened lower to start Monday’s action as Wall Street debated over the economy's recovery on more reopenings in key states like New York and New Jersey versus concerns over the coronavirus spreading in others. The major indexes got a midday lift following news a second round of stimulus relief could be coming.