Unplug This Energy Stock After Earnings

The S&P 500 notched a fresh closing high

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Schaeffer's Market Recap
6/10/2021
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Stocks Maintain Gains as Inflation Anxieties Abate


By: Lillian Currens

Stocks logged notable gains today, as Wall Street eyed a very hot consumer price index (CPI) reading and just shrugged. In fact, the consumer price index rose at its fastest level since the summer of 2008. Experts are speculating that today's reading will be just a drop in the bucket, and that this momentum will eventually even out as the economy returns to its pre-pandemic normalcy.

With most investors able to shake off some of this week's inflation anxieties, the S&P 500 notched a record intraday and closing high, as well as a notable percentage gain. The Dow and Nasdaq also maintained sizable wins for most of the session, with the former settling with a 20-point pop. While there's still volatility among "meme" stocks -- the majority of which plummeted on Thursday -- Wall Street's "fear gauge," the Cboe Volatility Index (VIX), fell to its lowest settlement since February 2020. 

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

  • What options traders were pricing in for Chewy stock before earnings.
  • Why FCEL's short-lived rally fizzled out. 
  • Plus, Skechers lands new athletic partnership; MRNA pushes to extend Covid-19 vaccine to teens; and WFC looks ready to bounce. 
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