Wall Street ends little changed; Wendy's becomes the latest meme stock for Reddit day traders

4:10pm: Ho-hum close on Wall Street

The Dow closed down 31 points, less than 0.1%, at 34,599. The Nasdaq added 43 points, 0.3%, to 13,925, and the S&P 500 finished less than a point up at 4,227.

The Wendy’s Company (NASDAQ:WEN) appears to have joined the likes of GameStop Corp (NYSE:GME), AMC Entertainment Holdings Inc (NYSE:AMC) and other favorite stocks of Reddit day traders. The fast-food chain’s stock surged more than 25% to $28.87.

12:15pm: Major indices mixed and flat

The Dow was up less than 2 points to 34,632, after a brief downward spike that saw the index drop as low as 34,453. The Nasdaq was up 10 points to 13,892, and the S&P 500 was up 1 point to 4,228.

“If today’s JOLTS numbers in the US aren’t an indication of an economy that is rebounding strongly then it is hard to know what is,” IG Chief Market Analyst Chris Beauchamp wrote. ”Job openings hit 9.2 million in April, the highest level on record and up 100% year-on-year. Markets however have received the news in petulant mood, with US indices enjoying only small gains in most cases, and the Dow staying in the red for the time being.”

The latest so-called “meme stocks” may be The Wendy’s Company (NASDAQ:WEN), shares of which jumped more than 16% to $26.66.

9:55am: Proactive North America headlines:

Northstar Gold Corp (CSE:NSG) (OTCMKTS:NSGCF) (FRA:3WV) consolidates its ground at Miller gold property with Searles acquisition

Water Tower Research releases schedule for its ClimateTech & Sustainable Investing Research Fireside Chats for the week of June 7-June 11

Binovi Technologies Corp (CVE:VISN) (OTCQB:BNVIF) set to debut its Binovi Touch Elite at the NATA Virtual Clinical Symposia & AT Expo

Marvel Discovery Corp (CVE:MARV) (OTCPINK:IMTFF) (FRA:O4T1) acquires 10,250 hectares near Gander, Newfoundland

BioHarvest Sciences Inc (CSE:BHSC) expects to commercialize its first cannabis-based products in first half of 2022

GGX Gold Corp (CVE:GGX) (OTCQB:GGXXF) (FRA:3SR) begins diamond drilling at its Gold Drop property in British Columbia

Altamira Gold Corp (CVE:ALTA) (OTCPINK:EQTRF) uncovers new high-chargeability anomaly at the Mutum target on its Apiacas project

Clean Seed Capital Group Ltd (CVE:CSX) (OTCMKTS:CLGPF) applies to have its shares trade on the OTCQB Venture Market

Avalon GloboCare Corp (NASDAQ:AVCO) says CEO to chair S-layer nanotechnology, QTY code platforms session at 2021 World Stem Cell Summi

GlobeX Data Ltd (OTCQB:SWISF) (CSE:SWIS) (FRA:GDT) ramps up Sekur marketing campaign with 60-second ad spot to reach 50 million US households

CO2 GRO Inc (CVE:GROW) (OTCQB:BLONF) (FRA:4021) announces a CO2 Delivery Solutions commercial feasibility with UK tomato greenhouse grower

Tartisan Nickel Corp (CSE:TN) (OTCPINK:TTSRF) closes first tranche of its C$4.5M flow-through financing

Mandalay Resources Corporation (TSE:MND) (OTCQB:MNDJF) (FRA:R7X2) ‘excited’ by Shepherd zone discovery at its Australia mine and continuity of high grades

First Mining Gold Corp (TSE:FF) (OTCQX:FFMGF) (FRA:FMG)closes Hope Brook earn-in agreement with Big Ridge Gold Corp in cash and share deal

Mirasol Resources Ltd (CVE:MRZ) (OTCPINK:MRZLF) (FRA:M8R) initiates 2,000-meter drill program at Rubi Copper project in Chile

Tocvan Ventures Corp (CSE:TOC) (FRA:TV3) set to bolster portfolio with acquisition of El Picacho gold project in Mexico

Phunware Inc (NASDAQ:PHUN) (FRA:2RJ) releases new mobile app PhunWallet on Google Play for Android

Idaho Champion Gold Mines Canada Inc (CSE:ITKO) (OTCQB:GLDRF) (FRA:1QB1) releases 2021 drill program plans

Plurilock Security Inc (CVE:PLUR) (OTCQB:PLCKF) inks contract extension with US Special Operations Command

NexTech AR Solutions Corp (OTCQB:NEXCF) (NEO:NTAR (FRA:N29) says EdTechX approved as a co-sell partner on Microsoft Azure

O3 Mining Inc (CVE:OIII) (OTCQX:OIIIF) says latest drill results from Québec show potential to expand resources at depth at Marban project

Fobi AI Inc (CVE:FOBI) (OTCQB:RACMF) taps former NielsenIQ executive Richard Lee as its SVP of strategy and corporate development

XPhyto Therapeutics Corp (CSE:XPHY) (OTCMKTS:XPHYF) (FRA:4XT) says it is rapidly advancing its mescaline program for psychedelic therapies

9:36am: Wall Street mixed at the start

The main indices on Wall Street were mostly higher on Tuesday morning as traders digested US trade data and awaited job openings figures.

Shortly after the opening bell, the Dow Jones Industrial Average was down 0.01% at 34,627 while the S&P 500 climbed 0.15% to 4,232 and the Nasdaq rose 0.44% to 13,943.

Sentiment appeared to have been shred up by a narrowing of the US trade deficit in April to US$68.9bn from US$75bn the previous month.

Meanwhile, shares in cloud computing firm Fastly Inc (NYSE:FSLY) jumped 1.6% to US$51.49 as traders seemed to shrug off the firm’s role in a major internet outage earlier this morning.

8:00am: Wall Street expected to start on a mixed note

Wall Street is heading for a mixed but frankly undramatic open despite the major but short-lived internet outage earlier today.

The Dow Jones Industrial Average is looking at a barely perceptible 0.07% or 17 point dip. The S&P 500 is set to edge up 0.11% and the Nasdaq Composite – shrugging off the outage and the weekend’s G7 agreement on taxing (mostly) tech companies – is expected to add 0.38%.

Investors still seem to be focused on inflationary pressures, and are perhaps being cautious ahead of Thursday’s US CPI figures.

There is also some US data due, with trade figures and job opening numbers.

Michael Hewson at CMC Markets said: “The latest JOLTs survey is expected to see another increase in job openings to 8.2mln in April, up from 8.12mln in March, as US businesses struggle to fill a growing number of vacancies at a time when US consumers have seen two big fiscal handouts in the first quarter of this year.”

Three things to watch for on Tuesday:

• Companies in the earnings diary today include robotic automation specialist UiPath Inc (NYSE:PATH), convenience store chain Casey’s General Stores Inc (NASDAQ:CASY) and RV maker Thor Industries Inc (NYSE:THO)
• Shares in cloud computing firm Fastly Inc (NYSE:FSLY) will be in focus after it was ascertained to have been the source of the internet outage
• Bitcoin could also draw attention as the digital currency dropped nearly 10% amid renewed fears of Chinese regulation and a shift in US monetary policy

Story by ProactiveInvestors