https://www.howestreet.com/2025/06/cryptos-make-major-stride-towards-legitimacy-mark-leibovit/
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U.S. Stocks Close Little Changed Following Two-Day Surge
Stocks initially extended the rally seen to start the week early in the session on Wednesday before giving back ground over the course of the trading day. The major averages pulled back off their early highs, eventually ending the day narrowly mixed.
While the tech-heavy Nasdaq rose 61.02 points or 0.3 percent to a new four-month closing high of 19,973.55, the S&P 500 edge down 0.02 points or less than a tenth of a percent to 6,092.16 and the Dow slipped 106.59 points or 0.3 percent to 42,982.43.
The initial strength on Wall Street partly reflected recent upward momentum, which saw stocks move sharply higher over the two previous sessions.
Buying interest waned shortly after the start of trading, however, as traders continue to monitor developments in the Middle East following yesterday’s news of a ceasefire between Israel and Iran.
The subsequent pullback by the markets may have reflected profit taking after the major averages reached their highest intraday levels in four months.
The strong upward moves seen on Monday and Tuesday also lifted the Nasdaq and the S&P 500 back within striking distance of their record highs.
In U.S. economic news, a report released by the Commerce Department showed a substantial pullback by new home sales in the U.S. in the month of May.
The Commerce Department said new home sales plunged by 13.7 percent to an annual rate of 623,000 in May after spiking by 9.6 percent to a revised rate of 722,000 in April.
Economists had expected new home sales to tumble by 7.1 to an annual rate of 690,000 from the 743,000 originally reported for the previous month.
Sector News
Commercial real estate stocks showed a significant move to the downside on the day, dragging the Dow Jones U.S. Real Estate Index down by 2.4 percent.
Considerable weakness was also visible among housing stocks following the new home sales data, with the Philadelphia Housing Sector Index slumping by 1.9 percent.
Oil service, airline and natural gas stocks also saw notable weakness, while strength among networking stocks contributed to the uptick by the Nasdaq.
Other Markets
In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Wednesday. Japan’s Nikkei 225 Index climbed by 0.4 percent, while Hong Kong’s Hang Seng Index jumped by 1.2 percent.
Meanwhile, the major European markets moved to the downside on the day. While the U.K.’s FTSE 100 Index fell by 0.5 percent, the German DAX Index declined by 0.6 percent and the French CAC 40 Index slid by 0.8 percent.
In the bond market, treasuries recovered from early weakness to end the session roughly flat. The yield on the benchmark ten-year note, which moves opposite of its price, ended the day unchanged at 4.293 percent.
Looking Ahead
Trading on Thursday may be impacted by reaction to the latest batch of U.S. economic data, including reports on weekly jobless claims, durable goods orders and pending home sales.
J. Powell is not only politically motivated but one of the stupidest people in Washington, D.C. Recognize, the FED can easily be disbanded as easily as it was created back in 1913. Read ‘The Creature From Jekyll Island’ by G. Edward Griffin. In November 2024, the Federal Reserve, under the leadership of Chair Jerome Powell, cut the target range for the federal funds rate by 0.25%. This followed a 0.5% cut in September 2024. These actions marked a shift in the Fed’s focus from aggressively fighting inflation to bolstering the economy. While Powell has stated that the Fed does not consider politics in its decisions, there have been accusations that his actions could be politically motivated. For instance, some critics have suggested that keeping interest rates high could benefit Donald Trump, who nominated Powell, by undermining the economy under President Joe Biden. We might need legislature ‘bunker-busting’ to get rid of the FED once and for all.
THE CASE FOR ABOLISHING THE FEDERAL RESERVE
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.
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
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