economy
Slighted market sectors get their time to shine
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- Markets rallied after initial pressure on AI and tech stocks, which rebounded from post-earnings pullbacks.
- Healthcare, financial, and communication services sectors saw strong sessions, boosting the Dow Jones Industrial Average.
- Costco reported an 8.7% increase in U.S. comparable sales for May, driven by a 3.7% growth in traffic.
- Consumers are flocking to Costco to save on gas prices, increasing store visits and bolstering sales.
- Upcoming events include earnings reports from Lululemon and DocuSign, and the government's May employment report.
- The economy is expected to have added 105,000 jobs in May, with the unemployment rate unchanged at 4.3%.