Stock to Watch as Travel Restrictions Ease

The S&P 500 is pacing for its fifth-consecutive monthly win

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Schaeffer's Midday Market Check
6/30/2021
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Wall Street Looks to Wrap Up 2nd Quarter, 1st Half of Year with Gains


By: Fernanda Horner

Stocks are trading near record highs this afternoon, as Wall Street looks to wrap up the second quarter and first half of 2021 with substantial wins. The Dow Jones Industrial Average (DJI) has added 133 points at midday, following a better-than-expected ADP employment report. Meanwhile, the tech-heavy Nasdaq Composite (IXIC) is eyeing modest losses for the day, and the S&P 500 Index (SPX) is flat, though the latter looks ready to eke out its fifth-straight closing high, and nab its fifth monthly win in a row. 

Elsewhere, the Mortgage Bankers Association said pending home sales in May surged to their highest level since 2005. Still, high prices and low supply may be forcing some buyers out, given last week's drop in mortgage demand. Investors are also keeping an eye on Big Tech, after reports that the Biden administration may issue an executive order that would increase scrutiny over certain industries where only a few businesses dominate the sector.

Continue reading for more on today's market, including: 

  • Easing travel restrictions are boosting this gambling name.
  • Seagate Technology stock upgraded on improving demand.
  • Plus, BBBY options pop on earnings win; social media traders target Cuentas stock; and ALT plummets after shelving vaccine candidate.
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