Daily Chart Report ? Wednesday, June 2nd, 2021

Today’s Summary
Wednesday, June 2nd, 2021

Indices: US Stocks closed slightly higher in today's session. The Dow was flat, changing just 25 points or 0.07%. The S&P 500 and Nasdaq both inched higher by just 0.14%. The Russell 2000 ticked higher by 0.13%.

Sectors: 6 of the 11 sectors closed higher. Energy led, gaining 1.86%. Materials lagged, falling 0.84%.

Commodities: Crude Oil futures continued higher by 1.64% to a new 52-wk high of $68.83 per barrel. Gold futures rose 0.26% to $1,910 per ounce.

Currencies: The US Dollar Index was flat (0.02%).

Interest Rates: The 10-year US Treasury yield fell to 1.588%.

Here are the best charts, articles, and ideas being shared on the web today!

Chart of the Day

Today’s Chart of the Day was shared in a note by Frank Cappelleri of Instinet (@FrankCappelleri). It's a weekly chart of the Oil & Gas Exploration & Production ETF, $XOP, over the past decade. The top stocks in this ETF include Range Resources ($RRC), Antero Resources ($AR), Southwestern Energy, Devon Energy ($DVN), and Hess Corp. ($HES). Crude oil is breaking out, and Energy stocks are reaping the benefits. $XOP closed a fresh 52-week high today, but more importantly, it's breaking out of a bullish pattern on the long-term chart. In the note, Frank explained "From a weekly perspective, XOP nudged through a key downtrend line, completing a sizable two-year bullish inverse Head & Shoulders pattern. Holding above that breakout point would target the $159 area. That’s a lofty objective, but not when it’s framed on a 10-year chart." 

Quote of the Day

"Who owns the future?
This is the question at the heart of every stock market."

– John Landgraf