Negative

From Barchart: 2024-06-17 14:29:00

Key economic data released today includes the Producer Price Index (PPI) for May, showing a swing to -0.2% from expectations of +0.1%. Year over year, PPI reached +2.2%, down 30 basis points from expectations. Initial Jobless Claims hit 242K, the highest since August 19th of last year. Pre-market futures show Nasdaq up +185 points, Dow down -21.

Broadcom (AVGO) shares surged +13% in pre-market trading after reporting fiscal Q2 earnings. Earnings of $10.96 per share outpaced expectations, with revenues reaching $12.49 billion, a +3.7% surprise. Year-to-date gains for Broadcom are at +30%, with the announcement of a 10-for-1 stock split. Bitcoin has experienced high returns in recent years, with Zacks predicting a significant surge to come.



Read more at Barchart: PPI Wholesale Shrinks, Jobless Claims Jump