Further broad based advance, IWM outperformed the other major indexes

Jeff_Sun
2023-06-14

14/6/2023 Market Diary

1. Further broad based advance, IWM $iShares Russell 2000 ETF(IWM)$ +1.15% outperformed the other major indexes.

2. Biggest positive catalyst driving the bullish bias came from further softening in inflation as it's now down 4.0% YoY vs 4.9% reported a month ago.

3. This corroborate the market's view that Fed may not raise interest rate later today, and also further dilluted expectations of a rate hike in July.

4. At sectorial level, XLB $Materials Select Sector SPDR Fund(XLB)$ +2.3% and XLI $Industrial Select Sector SPDR Fund(XLI)$ +1.2% saw the biggest gains, while KWEB $CSI China Internet ETF(KWEB)$ reclaimed its 50 & 200-MA.

5. Focus: $Direxion Daily Junior Gold Miners Index Bear 2X Shares(JDST)$ $Direxion Daily Gold Miners Index Bear 2X Shares(DUST)$ $New York Community(NYCB)$ $Surgery Partners(SGRY)$

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