The Stock Market Is Pointing To a Higher Opening On June 17
The stock market is pointing to a higher opening on June 17 as the S&P 500 futures flirt with resistance at 2,900.

The Stock Market Is Pointing To a Higher Opening On June 17

This column is my opinion and expresses my views. Those views can change at a moments notice when the market changes. I am not right all the time and I do not expect to be. I disclose all my positions clearly listed on the page, and I do not trade my account on the stocks spoken of in this column unless fully disclosed. If that does not work for you stop reading and close the page. Do not bother me or harass me.

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June 17 – Stock mentions: SPY, XBI, DIS, SBUX, AVGO, FB, BYND

Michael Kramer and the clients of Mott Capital own DIS and AAPL

US Markets

  • S&P 500 futures +2.5 points
  • US 10-Year 2.12%
  • Dollar Index 97.51
  • Oil $52.12
  • VIX 15.66

International Markets

  • Japan Nikkei +0.03%
  • Shanghai Composite +0.20%
  • Hong Kong HSI +0.40%
  • South Korea Kospi -0.22%
  • Germany DAX +0.05%
  • UK FTSE -0.07%

Premium Content – A Look At The Week Ahead – June 17 Edition

Stocks To Watch For June 17

S&P 500 (SPY)

S&P 500 Futures are flirting with a rise above resistance at 2,900 on June 17. We can also see the futures are now trending higher, which is a positive.

S&P 500, futures spx

Biotech (XBI)

Biotech stocks should get a shot in the arm on June 17 after it was announced that Pfizer would buy Array Biopharma. M&A has been something that has been missing from the biotech sector for some time and perhaps this news gets the sector moving higher. The XBI is flirting with resistance this morning at $82.90.

biotexh xbi, june 17, stocks

Disney (DIS)

Disney was downgraded this morning to in-line from Outperform at Imperial Capital with a $147 target. DIS was flirting with its all-time highs last week. Support comes at $132.

disney, june 17, stock

Broadcom (AVGO)

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Kind of strangely, or not, Broadcom which fell sharply on Friday is still higher than where it was on June 3 and is well off its Friday lows. I think AVGO fills the gap back to $280. Perhaps with AVGO trading at 11 times next’s years earnings estimates all of the bad news has already been priced into the stock.

avgo broadcom, june 17

Starbucks (SBUX)

It is amazing to me how investors worry so much about what impacts of a trade war will have on Apple and China iPhone sales, but when it comes to SBUX, nobody cares? I guess the China consumer is willing to give up its iPhone, but not it’s coffee? Strange.

starbucks, sbux, june 17

Facebook (FB)

Facebook next level of resistance comes around $186.

facebook, fb

Beyond Meat (BYND)

Resistance for Beyond Meat comes at $164.50

beyond meat, bynd, 6/17 stock


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