Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Day Ahead: 3 Things to Watch for June 12

Published 06/11/2020, 04:14 PM
Updated 06/11/2020, 04:26 PM
© Reuters.

By Liz Moyer

Investing.com -- Stocks went into a tailspin on Thursday as investors sold on fear that a second wave of Covid-19 cases could interfere with a return to business as normal.

The major stock indexes each fell sharply. The Dow Jones Industrial Average tumbled nearly 7%, the S&P 500 fell 5.9%, and the NASDAQ Compositeshed 5%, coming off an all-time high close above 10,000 a day earlier. Crude Oil WTI Futures also fell nearly 10% on Thursday.

Investors will be watching Friday to see whether stocks can halt their losing streak or whether they will head into the weekend on a down note.

Consumer sentiment data for June is expected out on Friday, as well as data on imports and exports.

Here are three things that could affect markets tomorrow.

1. Consumer Sentiment Expected to Improve Despite Covid-19

The Covid-19 virus hasn't dampened consumers' outlooks, at least as far as expectations for Friday's Michigan Consumer Sentiment survey, due out at 10:00 AM ET (14:00 GMT). The number is expected to be 75 for June, up from 72.5 the prior month. Businesses are reopening and individual restrictions are being loosened in much of the U.S. even though cases of the virus continue to rise in some areas. Of course, the survey comes out two days after the Federal Reserve chairman said the recovery would take a long time, remarks that sent stocks plunging on Thursday.

2. Import Price Data Expected to Show Gain

May's import price index is due out Friday at 8:30 AM ET (12:30 GMT). The monthly figure for May is expected to come in at 0.6% compared to a contraction of 2.6% for the prior month. The index measures the change in the price of imported goods and services purchased in the U.S.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

3. Export Price Data Also Expected to Be Positive

Also on Friday, May's export price index is due out at 8:30 AM ET (12:30 GMT). The monthly figure is expected to be a gain of 0.6% compared to a contraction of 2.6% the prior month. The figure tracks changes in U.S. exports to determine whether there was an increase in goods sold abroad or merely an increase in the price of exported goods.

 

Latest comments

it may rebound this week but will definently crash once before fully recover. end of june and early july
Time to get some juicy stocks at a low price! Can't wait for the rebound!!
The market started to decline only when it was announced that the market have fully recovered! it has nothing to do with feds, oil or C19. it's the big boys to decide where the market head to
got damage? or stay with damage
texas is not a second wave, its the first one that now is reaching there
shame we want the market to fell for know it still covivi ....mabye end of june it can rise but for knw we are just selling n swing
economy rebound is inevitable
Not soon
I am sure it will be rebounded tomorrow
I thought it would start rebound before the closing bell
Run away and you will miss the big jump up... Stay strong!!!
Market showing a recovery already. Tomorrow will be an epic recovery.
Right!!!
Not tomorrow , but yes during the next week.
you could get scared and sell or buy, wait it out and get the big $$$ in a few months
Crash incoming ... Sell off
How about gold
the market fluctuates
I was happy to collect in the end of the day few s&p goodies at a great price. small chunks starting over with collecting and selling later. america is still being opened despite the charts. the outside reality dictates.
nasdaq what the *******is happening ??? Is there another fall coming ??
Still gonna open 295 and then bounce up
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.