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Wall Street’s major market averages fell on Friday as traders weighed the May labor report, while technology continued to come under pressure. On the economic front, non-farm payrolls rose more than expected in May, while the unemployment rate reached 4.3%.
Next week is expected to be relatively quiet on the economic and earnings front, with no economic data scheduled for Monday. On Tuesday, existing home sales data for May will be released, followed by monthly CPI data on Wednesday. Thursday will see the release of the Producer Price Index number for May along with initial unemployment claims numbers.
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Earnings highlights: Wednesday: Oracle (ORCL) and rubbery (He blows). See the full earnings calendar.
Earnings highlights: Thursday: Adobe (ADBE) and aurora hemp (ACP). See the full earnings calendar.
Volatility monitoring: Seabridge Global (on(and the medical real estate fund)MPT) saw an increase in options volatility over the past week. The most overbought stocks on the 14-day RSI include Laser Photonics (Leaves), solidion technology (Sexually transmitted diseases), and Netclass technology (NTCL). The most oversold stocks according to the 14-day RSI include Mountain Lake Takeover (Legal Action Center) and ADC treatments (ADCT). Short interest has been raised again on Groupon (GRPN(and biological farms)You).
Earnings Monitoring: Companies with an ex-dividend date next week include Alphabet (Google) (Google), Occidental Petroleum (Oxy), travelers (luxury), Taiwan Semiconductor Manufacturing Company (TSM).
Underwriting Monitoring: SpaceX (Spex) will dominate IPO talk with the airline giant set to begin trading on June 12 at a pre-determined pricing level of $135 per…
