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

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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)

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

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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

-Mike

Mott Capital Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future results.

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This report contains independent commentary to be used for informational and educational purposes only. Michael Kramer is a member and investment adviser representative with Mott Capital Management. Mr. Kramer is not affiliated with this company and does not serve on the board of any related company that issued this stock. All opinions and analyses presented by Michael Kramer in this analysis or market report are solely Michael Kramer’s views. Readers should not treat any opinion, viewpoint, or prediction expressed by Michael Kramer as a specific solicitation or recommendation to buy or sell a particular security or follow a particular strategy. Michael Kramer’s analyses are based upon information and independent research that he considers reliable, but neither Michael Kramer nor Mott Capital Management guarantees its completeness or accuracy, and it should not be relied upon as such. Michael Kramer is not under any obligation to update or correct any information presented in his analyses. Mr. Kramer’s statements, guidance, and opinions are subject to change without notice. Past performance is not indicative of future results. Neither Michael Kramer nor Mott Capital Management guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment commentary presented in this analysis. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned in this analysis may not be suitable for you. This material does not consider your particular investment objectives, financial situation, or needs and is not intended as a recommendation appropriate for you. You must make an independent decision regarding investments or strategies in this analysis. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Before acting on information in this analysis, you should consider whether it is suitable for your circumstances and strongly consider seeking advice from your own financial or investment adviser to determine the suitability of any investment.