https://www.howestreet.com/2025/06/markets-react-to-trump-vs-musk-feud-mark-leibovit/

 

U.S. Stocks Close Mostly Lower Following Another Choppy Trading Day

Following the volatility seen in the previous session, stocks continued to fluctuate over the course of the trading day on Thursday. The major averages once again spent the day bouncing back and forth across the unchanged line before eventually closing in negative territory.

While the tech-heavy Nasdaq slid 162.04 points or 0.8 percent to 19,298.45, the S&P 500 fell 31.51 points or 0.5 percent to 5,939.30 and the Dow dipped 108.00 points or 0.3 percent to 42,319.72.

Stocks saw some strength earlier in the day after President Donald Trump confirmed in a post on Truth Social that he had an approximately 90-minute phone call with Chinese President Xi Jinping.

Trump described the phone call with his Chinese counterpart as “very good” and said it “resulted in a very positive conclusion for both Countries.”

The president also said the two countries’ teams will be “meeting shortly at a location to be determined” and noted the conversation was focused “almost entirely” on trade.

The phone call between Trump and Xi comes following recent signs of rising tensions between the U.S. and China over the trade agreement reached last month.

However, traders seemed reluctant to make more significant moves ahead of the release of the Labor Department’s closely watched monthly jobs report on Friday.

Economists currently expect employment to increase by 130,000 jobs in May after jumping by 177,000 jobs in April, while the unemployment rate is expected to hold at 4.2 percent.

The data could have a significant impact on the outlook for the economy following yesterday’s weaker than expected reports on private sector employment and service sector activity.

With the more closely watched monthly jobs report looming, the Labor Department released a report this morning showing first-time claims for U.S. unemployment benefits unexpectedly increased in the week ended May 31st.

Sector News

Reflecting the lackluster performance by the broader markets, most of the major sectors ended the day showing only modest moves.

Airline and networking stocks saw some weakness on the day, while telecom and gold stocks moved to the upside.

Other Markets

In overseas stock markets across the Asia-Pacific region turned in a mixed performance during trading on Thursday. Japan’s Nikkei 225 Index fell by 0.5 percent, while Hong Kong’s Hang Seng Index jumped by 1.1 percent.

The major European markets also ended the day mixed. While the French CAC 40 Index edged down by 0.2 percent, the U.K.’s FTSE 100 Index crept up by 0.1 and the German DAX Index rose by 0.2 percent.

In the bond market, treasuries pulled into negative territory after seeing early strength. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose 2.9 basis points to 4.394 percent, after hitting a nearly one-month intraday low of 4.318 percent.

Looking Ahead

The Labor Department’s monthly jobs report is likely to be in the spotlight on Friday, although any developments on the trade front may also attract attention.

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ANY CHANCE THE GEOMAGNETIC STORM AFFECTS THE EQUITY AND COMMODITY MARKETS?

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WHO IS MARK LEIBOVIT?

MARK LEIBOVIT is Chief Market Strategist for LEIBOVIT VR NEWSLETTERS a/k/a VRTrader.Com. His technical expertise is in overall market timing and stock selection based upon his proprietary VOLUME REVERSAL (TM) methodology and Annual Forecast Model.

Mark’s extensive media television profile includes seven years as a consultant ‘Elf’ on “Louis Rukeyser’s Wall Street Week” television program, and over thirty years as a Market Monitor guest for PBS “The Nightly Business Report”. He also has appeared on Fox Business News, CNBC, BNN (Canada), and Bloomberg, and has been interviewed in Barrons, Business Week, Forbes and The Wall Street Journal and Michael Campbell’s MoneyTalks.

In the January 2, 2020 edition of TIMER DIGEST MAGAZINE, Mark Leibovit was ranked the #1 U.S. Stock Market Timer and was previously ranked #1 Intermediate U.S. Market Timer for the ten year period December, 1997 to 2007.

He was a ‘Market Maker’ on the Chicago Board Options Exchange and the Midwest Options Exchange and then went on to work in the Research department of two Chicago based brokerage firms. Mr. Leibovit now publishes a series of newsletters at www.LeibovitVRNewsletters.com. He became a member of the Market Technicians Association in 1982.

Mr. Leibovit’s specialty is Volume Analysis and his proprietary Leibovit Volume Reversal Indicator is well known for forecasting accurate signals of trend direction and reversals in the equity, metals and futures markets. He has historical experience recognizing, bull and bear markets and signaling alerts prior to market crashes. His indicator is currently available on the Metastock platform.

His comprehensive study on Volume Analysis, The Trader’s Book of Volume published by McGraw-Hill is a definitive guide to volume trading. It is now also published in Chinese. Mark has appeared in speaking engagements and seminars in the U.S. and Canada.

Yes, that’s a cartoon of me. Louis Rukeyser had us dressed up in ‘elf’ costumes on the screen broadcast each week. I’ve dated myself. That occurred for me between 1988-1996. Lou didn’t like any bearish comments, so myself and other elves got dumped in 1996.

I APPEARED AS A GUEST PANELIST WITH LOUIS RUKEYSER ONE MONTH BEFORE IN MID-SEPTEMBER 1987!

THE MOST HONEST AND THOROUGH MEDIA NEWS OUTLET IN THE U.S.

https://www.newsmaxtv.com/

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THE LEGACY MEDIA GAS LIT ALL OF US AND THEY NEED TO BE STOPPED!

DISNEY IS AS GUILTY AS ABC – ABC NEEDS TO BE SOLD – PERHAPS TO THE DEMOCRATS OR PERHAPS COMMUNIST CHINA

FCC chair Brendan Carr sent a letter to Disney CEO Robert Iger stating, “Numerous reports indicate that Disney’s leadership went all in on invidious forms of D.E.I. discrimination a few years ago and did so in a manner that infected many aspects of your company’s decisions.”

ABC News does not fall under the FCC’s purview, but ABC’s eight-owned and operated stations are, and it wants to review whether they have violated any FCC equal employment opportunity regulations.

In addition, the FCC will also look at ABC’s policy that at least 50 percent of characters in TV pilots be from underrepresented groups.

For its part, Disney, in a statement, said, “We are reviewing the Federal Communications Commission’s letter, and we look forward to engaging with the commission to answer its questions.”

This is familiar territory for ABC News, which has already come under scrutiny from President Donald Trump. Last December, the news division settled its lawsuit with the president for $15 million over comments that anchor George Stephanopoulos made on a March 10, 2024 edition of his Sunday show, This Week.

As part of the settlement, the network included an editor’s note in the online article accompanying the broadcast, which stated: “ABC News and George Stephanopoulos regret statements regarding President Donald J. Trump made during an interview by George Stephanopoulos with Rep. Nancy Mace.”

The Associated Press reports that Disney has altered some of its D.E.I. positions in recent months. For example, it has changed the language at the beginning of some of its movies from “negative depictions and/or mistreatment of peoples or culture” to “this program is presented as originally created and may contain stereotypes or negative depictions.”

It joins NBCUniversal and Paramount Global as media companies with ties to news operations receiving the FCC treatment since the beginning of the second term of the Donald Trump administration.

The FCC does not have direct jurisdiction over NBCUniversal properties. Still, the news division could be affected by the outcome of the investigation due to its parent company, Comcast, cable and high-speed internet business, as they fall under the regulatory oversight umbrella of the FCC.

NBCUniversal is also expected to finalize the spinning off of its cable units into a separate company in the next few months, which will require government approval.

Meanwhile, Paramount Global is in the final stages of its merger with Skydance Media and needs government approval, too. On top of that, CBS News’ Sunday night newsmagazine, 60 Minutes, is facing a $20 billion lawsuit brought on by the president, who alleges the news network engaged in “deceitful” editing of a 60 Minutes interview with former Vice President Kamala Harris.

Carr made an official request for the unedited interview transcript, leading the network to publicly release the transcript and video footage of the interview on its website.

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WARNER DISCOVERY IS AS GUILTY AS CNN  – CNN NEEDS TO BE SOLD – PERHAPS TO THE DEMOCRATS OR PERHAPS COMMUNIST CHINA

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A YEAR OLD BUT STILL A GOOD ARTICLE

https://slate.com/business/2024/02/cnbc-investing-advice-bad-making-money.html

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THE CASE FOR ABOLISHING THE FEDERAL RESERVE

https://www.youtube.com/@NewsmaxTV/featured

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COME ON, DAD. IT’S TIME TO EAT

DISCLAIMER:

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