Key things

  • US stocks were little changed at midday on Friday, June 16, 2023, but on track for a winning week heading into the holiday weekend.
  • Domino’s Pizza was the top performing stock in the S&P 500 for the second session in a row.
  • CAVA Group shares doubled after yesterday’s debut.

U.S. stocks were slightly lower at midday on Friday, but on track for a winning week. The market was volatile quadruple witching day and before the long June holiday weekend.

Consumer staples stocks were among the biggest gainers in the major averages. Coca-Cola stock (K.O), McDonald’s (MCD) and Kimberly-Clark (KMB) increased by 1%. Domino’s Pizza (DPZ) was the top-performing stock in the S&P 500 for the second day in a row after an upgrade from Stifel.

Shares of Adobe rose after it reported that its revenue was growing artificial intelligence (AI) inquiry. iRobot Corporation (IRBT) shares rose as UK regulators approved Amazon’s (AMZN) purchase of a Roomba robot. Shares of West Pharmaceuticals (WST) jumped on the Bank of America upgrade.

Steel Dynamics (STLD) shares fell as the steel products maker’s guidance came in below estimates. Walt Disney Stock (DIS) fell as CFO Christine McCarthy stepped down amid reports of conflicts with CEO Bob Iger. After doubling yesterday’s first day of trading, CAVA Group shares (CAVA) fell.

Oil futures advanced. Gold prices changed little. The ten-year government bond was higher. The US dollar strengthened against the euro and yen, but fell against the pound. Most major cryptocurrencies were trading higher.


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