--- title: Weekly Market Update 06/04/2021 description: As an aggregate the stock market ended the first week of June on a higher note with the Dow, S&P 500, and Nasdaq advancing a respective 0.7%, 0.6%, and 0.5%. --- [![Diazo-Registered-White](https://blog.diazo.com/hs-fs/hubfs/Diazo-Registered-White.png?width=250&height=132&name=Diazo-Registered-White.png "Diazo-Registered-White")](https://www.diazo.com/) [![Diazo-Registered-Black](https://blog.diazo.com/hs-fs/hubfs/Diazo-Registered-Black.png?width=250&height=132&name=Diazo-Registered-Black.png "Diazo-Registered-Black")](https://www.diazo.com/) - [Our Services](https://www.diazo.com/services) - [Investments](https://www.diazo.com/investment-management) - [Retirement](https://www.diazo.com/retirement-planning) - [Risk Alignment](https://www.diazo.com/risk-alignment) - [Concierge Services](https://www.diazo.com/concierge-services) - [Multi-Generational Planning](https://www.diazo.com/multi-generational-planning) - [About Us](https://www.diazo.com/about-us) - [Our Team](https://www.diazo.com/our-team) - [Services & Pricing](https://www.diazo.com/services-pricing) - [Commentary](https://blog.diazo.com/diazo-insights) - [Insights](https://blog.diazo.com/diazo-insights) - [Weekly Updates](https://blog.diazo.com/weekly-updates) - [Webinars](https://www.diazo.com/webinars) - [Events](https://blog.diazo.com/events) - Resources - [Checklists](https://www.diazo.com/checklists) - [Past Communications](https://www.diazo.com/past-communications) - [Contact Us](https://www.diazo.com/contact-us) Portal Login [Schedule Call](https://www.diazo.com/schedule-call) Portal Login [Schedule Call](https://www.diazo.com/schedule-call) - [Our Services](https://www.diazo.com/services) - [Investments](https://www.diazo.com/investment-management) - [Retirement](https://www.diazo.com/retirement-planning) - [Risk Alignment](https://www.diazo.com/risk-alignment) - [Concierge Services](https://www.diazo.com/concierge-services) - [Multi-Generational Planning](https://www.diazo.com/multi-generational-planning) - [About Us](https://www.diazo.com/about-us) - [Our Team](https://www.diazo.com/our-team) - [Services & Pricing](https://www.diazo.com/services-pricing) - [Commentary](https://blog.diazo.com/diazo-insights) - [Insights](https://blog.diazo.com/diazo-insights) - [Weekly Updates](https://blog.diazo.com/weekly-updates) - [Webinars](https://www.diazo.com/webinars) - [Events](https://blog.diazo.com/events) - Resources - [Checklists](https://www.diazo.com/checklists) - [Past Communications](https://www.diazo.com/past-communications) - [Contact Us](https://www.diazo.com/contact-us) Portal Login [![Schedule Call](https://hubspot-no-cache-na2-prod.s3.amazonaws.com/cta/default/23713973/f43ff633-af19-4d19-908d-cd202209a51b.png)](https://hubspot-cta-redirect-na2-prod.s3.amazonaws.com/cta/redirect/23713973/f43ff633-af19-4d19-908d-cd202209a51b) Weekly Updates We’re not just here to manage your wealth. We’re here to help you understand how your money is being invested. # Weekly Market Update 06/04/2021 by [**Justin J. Long CFP®**](https://blog.diazo.com/weekly-updates/author/justin-j-long-cfp) on Jun 5, 2021, 12:00:00 AM This week brought us our first look at Las Vegas reopened. Monday night brought big celebrations on the Strip as the clock ticked towards 12:01 am June 1st, marking the end of pandemic restrictions and allowing businesses to open at 100% capacity.  The crowds did not wait, however, as we saw a large turnout for the holiday weekend, providing a much-needed tourism boost to our city, which had one of the worst jobless rates in the country this time last year, at 34%. Next week, we will see the arrival of the first major trade show to return to Las Vegas, and the debut of the LVCVA's $1 billion expansion of the convention center. As we have seen the rebound take place over the last 15 months, with these events here locally, we are now starting to see true effects of a recovery. The family and I will be taking a short day-trip to the California coast this weekend, in our first trip since January of last year.  What plans are you making for the summer? Now on to the summary for the week - #### Equities U.S. stocks managed to finish with a second-straight weekly advance on the heels of the May labor report that showed a solid acceleration in job growth but at a pace that was below forecasts. Growth stocks, notably the Information Technology and Communications Services sectors, led the way as Treasuries rose to apply downside pressure on yields and the U.S. dollar gave back yesterday's gains. Gold and crude oil prices traded to the upside. In equity news, Broadcom topped quarterly expectations, Costco Wholesale posted strong May same-store sales growth, Lululemon Athletica topped earnings estimates and raised its guidance, and CrowdStrike Holdings saw pressure despite exceeding profit forecasts and issuing favorable guidance. #### International News Europe showed some late-day momentum to finish mostly higher, and Asia finished mixed, but action remained choppy amid the grappling with economic optimism and inflation uncertainty. On the news front, the G-7 neared an agreement on a 15% global minimum corporate tax while the Biden administration negotiated the terms of an infrastructure spending package with Republicans. The administration also signaled openness to implementing a minimum corporate tax rate of 15% instead of raising the top rate to 28% from 21%. #### Overall Market News As an aggregate the stock market ended the first week of June on a higher note with the Dow, S&P 500, and Nasdaq advancing a respective 0.7%, 0.6%, and 0.5%. The first half of the abbreviated week was very quiet, as the S&P 500 shed two points on Tuesday and gained six on Wednesday. That masked a strong start from the energy sector, which gained 6.7% during the week, extending its year-to-date advance to 45.3%. The sector benefited from a 5.0% rally in the price of oil, which climbed to $69.61/bbl, its highest level since mid-October 2018. Growth stocks showed some weakness on Thursday, pressuring sectors like technology, communication services, and consumer discretionary. However, they bounced on Friday as Treasury yields fell in response to a weaker than expected Employment Situation report for May. Technology and communication services gained a respective 1.2% and 0.6% for the week while the consumer discretionary sector lost 1.0%. The past week saw renewed volatility in stocks that made headlines earlier this year. **AMC **(**AMC**) surged 95.2% on Wednesday and gained 83.4% for the week while **GameStop **(**GME**) and **Bed Bath & Beyond** (**BBBY **) gained a respective 11.9% and 13.3% for the week. As always, it is my pleasure to bring you this weekly update. If this or anything else is causing you pause or you would like further details, please feel free to reach out to me and we can schedule some time to chat.  Justin J. Long CFP® Founder/Lead Advisor Diazo Wealth Group 702-745-1800 Direct 702-278-6560 Cell Upcoming Economic Calendar Real Time Economic Calendar provided by [Investing.com](https://www.investing.com/). *Source: 1. FactSet* *Source: Week in perspective provided by Briefing.com. Briefing.com offers live market analysis on their web site [www.Briefing.com](http://www.Briefing.com).* *Innovative Adviser Solutions, LLC, a registered investment adviser, dba Diazo Wealth*   Topics: [Financial Planning](https://blog.diazo.com/weekly-updates/tag/financial-planning) #### Share this [Share on X](https://x.com/intent/post?url=https://blog.diazo.com/weekly-updates/weekly-market-updates/06-04-2021&text=Weekly+Market+Update+06%2F04%2F2021) [Share on Facebook](https://www.facebook.com/sharer/sharer.php?u=https://blog.diazo.com/weekly-updates/weekly-market-updates/06-04-2021&t=Weekly+Market+Update+06%2F04%2F2021) [Share on LinkedIn](https://www.linkedin.com/shareArticle?mini=true&url=https://blog.diazo.com/weekly-updates/weekly-market-updates/06-04-2021&t=Weekly+Market+Update+06%2F04%2F2021) ### Diazo Weekly Market Updates At Diazo Wealth Management we strive to provide relevant and value-added content to help our current and future clients stay updated on news that impacts markets. - Recent - Topics - Archive Recent Topics - [Financial Planning (44)](https://blog.diazo.com/weekly-updates/tag/financial-planning) - [Fiduciary (39)](https://blog.diazo.com/weekly-updates/tag/fiduciary) - [Markets (39)](https://blog.diazo.com/weekly-updates/tag/markets) Archive - [February 2024 (3)](https://blog.diazo.com/weekly-updates/archive/2024/02) - [December 2023 (2)](https://blog.diazo.com/weekly-updates/archive/2023/12) - [November 2023 (2)](https://blog.diazo.com/weekly-updates/archive/2023/11) - [October 2023 (2)](https://blog.diazo.com/weekly-updates/archive/2023/10) - [September 2023 (5)](https://blog.diazo.com/weekly-updates/archive/2023/09) - [August 2023 (4)](https://blog.diazo.com/weekly-updates/archive/2023/08) - [July 2023 (5)](https://blog.diazo.com/weekly-updates/archive/2023/07) - [June 2023 (4)](https://blog.diazo.com/weekly-updates/archive/2023/06) - [May 2023 (4)](https://blog.diazo.com/weekly-updates/archive/2023/05) - [February 2023 (1)](https://blog.diazo.com/weekly-updates/archive/2023/02) - [August 2022 (2)](https://blog.diazo.com/weekly-updates/archive/2022/08) - [April 2022 (1)](https://blog.diazo.com/weekly-updates/archive/2022/04) - [March 2022 (1)](https://blog.diazo.com/weekly-updates/archive/2022/03) - [February 2022 (1)](https://blog.diazo.com/weekly-updates/archive/2022/02) - [January 2022 (1)](https://blog.diazo.com/weekly-updates/archive/2022/01) - [November 2021 (1)](https://blog.diazo.com/weekly-updates/archive/2021/11) - [June 2021 (4)](https://blog.diazo.com/weekly-updates/archive/2021/06) - [May 2021 (4)](https://blog.diazo.com/weekly-updates/archive/2021/05) - [April 2021 (3)](https://blog.diazo.com/weekly-updates/archive/2021/04) - [March 2021 (4)](https://blog.diazo.com/weekly-updates/archive/2021/03) - [January 1970 (1)](https://blog.diazo.com/weekly-updates/archive/1970/01) See all #### Subscribe by email **Corporate Headquarters** 2534 Anthem Village Drive Suite 100 Henderson, NV 89052   [(702) 745-1800](tel:702-745-1800) [info@diazowealth.com](mailto:info@diazowealth.com) [Form ADV 2A](https://blog.diazo.com/hubfs/Regulatory/ADV_Part_2A.pdf) [Form CRS](https://blog.diazo.com/hubfs/Regulatory/Form_CRS.pdf) [Privacy Policy](https://blog.diazo.com/hubfs/Regulatory/Privacy_Policy.pdf)    #### Send us a Message Diazo LLC is registered as an investment adviser and only conducts business in states where it is properly registered or is excluded from registration requirements. 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