3 Things to Watch By Investing.com

By Christiana Sciaudone

Investing.com — Tech stocks were the ones to watch today as Treasury yields moved lower.

The Fed’s view that inflation is transitory is gaining in popularity, and the fall in 10-year break-evens is giving tech “somewhat of a green light if indeed the Fed is correct,” Janney Montgomery Scott said. Others say there’s less supply and that’s the explanation for the move.     

Cyclicals, however, struggled on the rotation from value to growth, and financials were dragged lower by banks since lower yields hurt net interest margin.

prices tumbled almost 5% to levels last seen in April as the surging dollar wrecked the prices of commodities priced in the greenback. was also lower on the commodities sell-off.

The official start of summer graces us with its presence on Sunday. If you’re in the Western part of the U.S., we hope that doesn’t exacerbate the already sweltering days.

Here are three things that could affect markets tomorrow:

1. Adobe 

Adobe Systems Incorporated (NASDAQ:)reports earnings after the close. Analysts tracked by Investing.com see earnings per share of $2.81 on sales of $3.73 billion. Results have beat estimates for each of the past three quarters. 

2. Triple witching

There’s no eco data, no earnings of note, but that doesn’t mean it’s going to be a quiet day. It’s a triple witching Friday. Options and futures on indexes and equities expire, which could lead to an exciting and volatile trading day. Or not. We’ll have to wait and see.

3. Juneteenth 

The soon-to-be newly minted federal holiday will not get in the way of trading tomorrow, with the New York Stock Exchange already saying it has no plans to close and the Federal Reserve expecting normal operations Friday and Monday. But next year could be a different story, as the exchange, Fed and other companies are all evaluating their plans for the holiday.