S&P 500, Nasdaq close at record highs to start the week

Stock (^DJI, ^IXIC, ^GSPC) inched higher to close the session out in the green to start off a big week for markets; May's Consumer Price Index (CPI) report and the Federal Reserve's FOMC meeting both fall on Wednesday, June 12.

Market Domination Overtime Anchor Julie Hyman reviews the S&P 500 and Nasdaq Composite's new record highs and movement in 10-year Treasury yields (^TNX) ahead of the June Fed meeting, while Jared Blikre recaps the day's sector leaders.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Luke Carberry Mogan.

Video transcript

There is the closing bell on Wall Street on this Monday and now it's market domination over time.

We're joined by Jared to get up to speed on the action from today's session.

So let's start with where the major averages ended the day.

We've got the dow higher by about 69 points here.

About not even 2/10 of 1%.

The S and P 500 closing at a new record here up by about a quarter of 1%.

If you take a look at the five day, look here.

We have the record happening last week and then a little bit of dip and then coming back up here as for the NASDAQ as well, didn't quite make it to a record today, but we did see it rise on the day also a little more than a quarter, a little more than a third of 1%.

In fact, and if we look across other asset classes here, we saw that little bit of a rally happen even with yields higher.

Many investors are focusing on Wednesday.

That's when we get both the consumer price index as well as the next fed decision even though, they're not expected to do anything.

We're also going to get the so called dot plot update that day, which could affect things in terms of where markets go.

Also want to take a quick check on crude because we saw a big move upward there as well that we're keeping on moving up towards $78 a barrel.

Let's go over to Jerry now for a closer look at today's action.

Thank you Julie on a day when not only was a 10 year up, so was the dollar.

We actually see quite a bit of green here.

So you can see behind me on the wi I interactive Utilities was the biggest winner here.

Unusual again on a day when you have increased interest rates because they compete uh in their bond like uh status.

So XL, you have 1.3% financials materials and staples traded to the downside here.

I'm going to show you a quick picture of the NASDAQ 100 there you can see a couple of outlier liar.

A MD trading almost 4.5% to the downside Pepsico down 3%.

But something interesting happened.

I was looking at Staples which was down and if you take a look at our food heat map, you can see a lot of dark right here.

That's Pepsico down 3%.

And then if you take a look at some of its restaurant cousins, well, we're seeing a lot of red there too.

Not all of it, but basically food kind of has a negative tilt to the day.

Finally here, a quick, uh, quick service restaurants, fast casual, fast food, seeing a lot of red there as well.

Uh, it wasn't all red today.

In fact, it was mostly green.

Here is our energy heat map.

You can see Conocophillips up over 1% Exxon up a third of a percent Chevron a little bit more.

And for the most part, uh it wasn't a day when tech was screaming, but I'll leave us with a picture of the semiconductor market aside from a MD pretty solid day here of gaines.