Once again, the Nasdaq is now in the green with the S&P 500 and Dow in the red. Buyers do not seem to have any true conviction.  The VIX, volatility index is slightly lower, but basically flat. Even FAANG is mixed, with only Amazon (AMZN) and Apple (AAPL) up.

Four of the eleven S&P 500 sectors are in the green. Energy is the best performing sector after 3 down days.  WTI, after beginning the day in the red is now trading up to $38.80.  

The green back is relatively flat at $97.30 and the benchmark 10-year U.S. Treasury is off a bit to .70%.

While breadth is mixed, 52-week highs are in full command.

Conference Board Leading Economic Index (LEI)

LEI rose 2.8% in May to 99.8, topping the 2.5% consensus as more states began to reopen their economies, bouncing back from a revised -6.1% in April and -7.5% in March. The drop in initial claims made up two-thirds of the improvement.  The stock market’s rebound and increase in housing permits also led to the rise.  The consumers’ outlook on the economy and new orders in manufacturing were still weak.

• The Coincident Economic Index + 1.1% in May vs -10.4% in April
• The Lagging Economic Index -1.9% vs +1.7% in April