On June 9, 2023, the S&P 500 Index is down 0.28%, marking a 2.5-week low, while the Dow Jones Industrial Average is up 0.19% and the Nasdaq 100 Index is down 0.80%. In related trading, June E-mini S&P futures are down 0.25% and June E-mini Nasdaq futures are down 0.74%. WTI crude oil prices have plunged over 3% to a one-week low, impacting energy producers and dragging down the overall market.
Key economic indicators reveal that the U.S. trade deficit for April narrowed to $55.9 billion, better than the expected $56.1 billion, and May existing home sales increased by 3.2% month-over-month to 4.17 million, surpassing expectations of 4.07 million. In China, May exports rose by 19.4% year-over-year, also higher than the anticipated 15.0% increase.
In market movements, chipmakers led declines, with Marvell Technology down over 7% and Qualcomm down more than 6%. Conversely, airline stocks, benefiting from lower fuel costs, saw gains with Alaska Air Group up over 4% and American Airlines Group up over 3%. United Natural Foods reported Q3 net sales of $7.72 billion, lower than expectations, causing its shares to drop over 12%.
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