June Stock Trading to Start Bullish

For the first week of trading in June, the stock markets are looking to begin Monday high, for the most part.

The Dow Jones Industrial Average closed with an increase of 571 points on Friday, up 1.51%.A number of stocks on that index were mildly high, including Salesforce Inc. (CRM), up 7.54%, McDonalds Corp. (MCD), up 2.72%, and Boeing (BA), up 2.81%.

The S&P 500 is up by 0.80% in premarket trading. Salesforce was one of its top gainers as well, but the biggest gains came from Caesars Entertainment Inc. (CZR) with an increase of 11.65%. Dollar General Corp. (DG) also showed healthy growth, with a gain of 7.01%.

The only major index that was down when trading ended on Friday was the Nasdaq Composite, with a slight loss of 0.01%. Novo Integrated Sciences Inc. (NOVOS) was its big gainer, with an increase of 171%. Its gains were balanced out by a few major losses from WeBuy Global Ltd. (WBUY) and Smart for Life Inc. (SMFL), down 61% and 42%, respectively.  

Trading Expectations for the Week

The market indices showed healthy gains for May, and it is expected that they will continue to grow in June. The gains made from last month may help the market push forward as the new month starts, but key economic data coming later today could hinder trading efforts.

We will be seeing Vehicle Total Sales data as well as ISM Manufacturing PMI and Construction Spending. These figures can indicate where the economy is at and whether anything has changed from last month. The expectation is that these numbers will be both up and down, showing a mixed overall picture that could cause some trepidation in the stock markets, keeping trading muted.

Strong sales data from companies that are releasing earnings reports this week could help spur the market, though, improving confidence in trading. Campbell Soup (CPB), Bath & Body Works (BBWI), and Dollar Tree (DLTR) all have earnings reports scheduled for Tuesday.