Opening Bell

With the opening bell, stocks rallied to their highs of the day. Energy and Industrials are the leading sectors of S&P 500, up 2.81% and 2.62% respectively. S&P is up 16.46 points at 935.60. All sectors of S&P are trading higher.

Meanwhile the U.S Dollar is hitting its fresh lows for the day. The Index is now at 78.83. As you know, the Index is now trading its six month lows. Crude oil on the other hand, is making a come back, changing hands around $68 a barrel.

Commodities are also on the move today. Gold is trading $982.20 an ounce, up 0.27% where Silver is at 15.77 slightly down 0.13%.

On one note, investors are slowly dumping GM, bringing down the stock as low as $0.27 today. It is now trading at $0.63. It is unfortunate to see GM's market cap being shrunk to 365.48 million.


According to CNN, General Motors, (GM) and Citigroup, (C) will be replaced in Dow Jones Industrial Average by Cisco (CSCO) and Travelers Co. (TRV), respectively.

Now comes the ISM Manufacturing Index for May. The number came in line with the expectations, still lower than 50, at 42.8. However, this number is much better than the previous April reading of 40.1.

Surprisingly, construction spending had an 0.8% increase which was much better than the consensus. The March reading was 0.4% increase.