[Platinum Insights] 6.6.23

Good morning.  

The market momentum stalled on Monday, as the major averages went about in a lackluster manner before closing lower amid rate concerns and recession fears. The indices traded mostly above the unchanged line till late afternoon trading before turning lower. Trading in the U.S. index futures suggests stocks continue to be edgy ahead of next week’s Federal Reserve meeting.  

Fed officials last week made the case for the central bank to keep rates steady at its June 13-14 meeting and look for more factors to ascertain whether the economy was cooling, or higher rates were warranted. The officials have entered a “blackout” period.  

Apple unveiled a costly augmented-reality headset called the Vision Pro in its riskiest bet since the introduction of the iPhone more than a decade ago, barging into a market dominated by Meta. The Vision Pro will start at $3,499.  

Nvidia slipped 0.5% premarket, after declining 0.4% Monday. The company’s director John Dabiri disclosed the disposal of 383 of Nvidia’s common shares in a Monday regulatory filing.  

GE HealthCare Technologies Inc. reported a secondary offering of 25 million shares.  

WTI crude futures fell below $71 per barrel. Gold prices steadied around $1,960 an ounce while the yield on the US 10-year Treasury note reversed early gains to trade around 3.7%.  

Check out the Platinum Channel for swing trading education, stock watchlists and the Paper Trading Portfolio!  

Have a great day