Wall Street secured new records on the first day of the new month. The S&P 500 and Nasdaq each secured intraday and closing records as investors grew more confident in a solid jobs report out tomorrow. Hewlett-Packard Enterprises (HPE) was the worst performer on the S&P after weaker-than-expected earnings over its fiscal second quarter and disappointing guidance for its third. The tech company swung to a loss over its recent reporting period. Ford (F) reported a surprise increase in sales over May. The automaker saw unit sales increase just 2% last month with truck sales driving the bulk of growth. It was not such a good month for General Motors (GM) , though. The rival Detroit car company reported a surprise decline of over 1% in May, surprising analysts looking for an increase of 4.3%.
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Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
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