(US) Market Trading Hours Summary S&P gains after GDP data and strong big tech earnings.

Stocks fell off opening levels, with the S&P holding on to positive territory and the Nasdaq near flat, as investors digested a slew of earnings reports, macro data, and the FOMC aftermath.

The advance reading on Q1 US GDP came in at the second fastest annualized rate since the 1960s, as reopening and stimulus payments boosted activity, and jobless claims kept descending to new pandemic lows.

Yields continued to rise, as the 10-year touched its highest level in two weeks, while the dollar firmed. Crude prices gained again, with WTI topping $65/bbl, aiming for its highest close since mid-March, while copper surpassed its all-time high set back in 2011.

Cruising names lifted after Royal Caribbean said talks with the CDC were advancing to allow passenger ship travel again.

US Session

-(US) Mayor De Blasio: To fully reopen NYC on July 1st

-*(US) INITIAL JOBLESS CLAIMS: 553K V 540KE; CONTINUING CLAIMS: 3.66M V 3.59ME

-*(US) Q1 ADVANCE GDP ANNUALIZED Q/Q: 6.4% V 6.6%E; PERSONAL CONSUMPTION: 10.7% V 10.5%E

-*(US) Q1 ADVANCE GDP PRICE INDEX: 4.1% V 2.6%E; CORE PCE Q/Q: 2.3% V 2.4%E

-(US) Biden economic plan includes elimination of tax break for many real-estate owners that allowed them to defer paying capital gains on property sales - press

-*(US) MAR PENDING HOME SALES M/M: 1.9% V 4.4%E; Y/Y: 25.3% V 27.5%E

-(AR) Argentina Apr Consumer Confidence: 35.3 v 38.2 prior

-*(US) WEEKLY EIA NATURAL GAS INVENTORIES: +15 BCF VS. +10 BCF TO +12 BCF INDICATED RANGE.

- Source TradeTheNews.com