Major indices are mostly in the green, although off of their morning highs.

Eight sectors are in the green, with Energy (XLE) out in the front as Iran headlines continue to circulate. Materials (XLB) is the runner up as metal commodities get a boost. On the flip side, Consumer Discretionary (XLY) is the laggard, as its mega cap components of Amazon (AMZN) and Tesla (TSLA) move lower. Notably, Technology (XLK) is trying to make a move into the green, with software names weighing the sector down.

SpaceX

SpaceX (SPCX) took off and started trading at around 11:45 and opened at $150, up from its allocated price of $135. Since starting trading, shares have continued higher.

Economic Data

Michigan Consumer Sentiment rose to 48.9 in June from May’s low of 44.8 and above estimates of 46.

Notable Points:

• 5 year inflation expectations fell to 3.4% from 3.9%
• Year ahead inflation expectations moderated to 4.6% from 4.8%
• Consumer expectations rose faster than anticipated to 49.3 from 44.1
• Current conditions also increased faster than expected to 48.4 from 45.8