The first trading day in June was highlighted by a recovery in oil prices and an unexpected boost in manufacturing which led to modest gains on Wall Street.
However, bond behemoth Pimco stated in its latest projections today that the stimulus program undertaken by the U.S. Central Bank is “losing its effectiveness and creating a potential land mine for investors.”
Pimco strategists said in a report:
“While there are myriad uncertainties, there is no doubt that a global disruption of our baseline scenario would have serious repercussions for growth, inflation and financial markets. The risks are uncertain, but they are real, and active investors can aim to put a price on them.”
See more on current global and U.S. economic concerns below.
Here are the final numbers from Wednesday, June 1st on Wall Street:
Dow Jones Industrial Average: 17,789.67 (+2.47 / +0.01%)
NASDAQ: 4,952.25 (+4.20/ +0.08%)
S&P 500: 2,099.33 (+2.37/ +0.11%)