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Today's market
Michael P. Reinking, CFA
St. Market Strategist
June 2, 2023 at 6:30 p.m. EST
With a 1.5% rally today the S&P 500 extended its weekly winning streak to three consecutive weeks and decisively broke above 4,200, a level that has capped the index throughout this year. The NYSE FANG+ index continued its march higher extending its weekly winning streak to six weeks, the longest stretch since May - July in 2021. The strength this week was a mix of the removal of the debt ceiling overhang and economic data which suggests the labor market remains resilient while some of the inflationary pressures are easing.
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