S&P 500 Monthly Gains

June 1st, 2010

May is gone and June is finally here. May was horrible for the markets and one of the worst performing months in many years. As we get towards the summer months, many traders (including myself) will look towards an easing in market volatility, volume, and movement. The next three months historically have been very favorable for the bulls which is why I still believe we will end up higher.

However, this morning we are not kicking off June on a good note. Futures for the S&P 500 are down 1.7 percent, Dow Jones futures down 1.4 percent and Nasdaq 100 futures down 1.3 percent. The bulk of the news if coming from the European Central Bank which said euro zone banks face another 195 billion euros ($239 billion) in potential writedowns to the end of 2011 in a second round of losses from the financial crisis.

All in a day’s work I guess. More to come throughout the day.

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