Thursday June 4, 2026
[4:10 PM ET…closing prices for stocks; 3:50ish for commodities and bonds]
*To start with something different, a Quiz:
I was just reading an article on the National Symphony Orchestra’s upcoming season, which is now in jeopardy because the Kennedy Center has not approved its budget (outrageous), but within the piece was a bit I don’t know if I ever thought about before, so, who are considered the “big five” orchestras in America (the National Symphony not one of them)? Answer below.
Tale of the Tape at the gas pump, nationwide averages, courtesy of AAA.
Fri., Feb. 27…regular $2.98…diesel $3.75
Thurs., June 4…reg. $4.24…diesel $5.39
WTI crude oil futures snapped a three-day rally, as hopes for an agreement with Iran to end the conflict increased…maybe, kind of, sort of….
The U.S. said that Israel and Lebanon had agreed to a ceasefire, conditional on Hezbollah also halting its attacks. Tehran has made a ceasefire in Lebanon a condition for any peace deal with Washington. Lebanese President Aou added that the ceasefire would come into force within 24 hours of all concerned parties approving it.
Wednesday, President Trump said progress in negotiations with Iran could be achieved as early as this weekend, which we’ve heard before. But uncertainty about the end of the war persists and tensions remain elevated.
Iran said there had been no recent progress in talks, and Israel’s Defense Minister said Israel will continue to strike Lebanon.
In the equity markets, we had a rotation out of chipmakers into several other industries after Broadcom Inc.’s underwhelming outlook tested the AI trade that has powered the market.
But tech bounced back as the day went on and stocks (the Dow and S&P) resumed their climb.
Bitcoin dropped to its lowest level in nearly four months, Thursday morning, $61,300, before trimming some of the losses. Investment sentiment deteriorated earlier this week after digital asset treasury giant Strategy revealed it sold tokens for the first time since 2022.
While the sale of 32 tokens was just a fraction of Strategy’s bitcoin holding, the move rattled markets, as it was a departure from the company’s aggressive buy-and-hold strategy.
We have a big jobs report tomorrow, Friday.
GO KNICKS! Brunson was amazing, again, last night. But if I was buying a Knicks jersey today, I’d opt for Landry Shamet. Over the last five games of the playoffs, Shamet is 14 of 18 from three! Good Lord!
—
Dow Jones +874…+1.7% [51562…record]
S&P 500 +30…+0.4% [7584]
Nasdaq -23…-0.1% [26830]
Oil (WTI) $93.10…Brent $95.30
Gold $4480
Silver $74.05
Bitcoin $63,548 [4:00 PM ET]
U.S. 2-yr. 4.04%
U.S. 10-yr. 4.47%
Japanese 10-yr. 2.65%
Check out my Week in Review, published Fridays about 4:30 PM ET.
Orchestra Quiz Answer: According to the Washington Post, the “big five” orchestras are New York, Boston, Chicago, Philadelphia and Cleveland.
I think had I been given this quiz, no way I get all five right. I’d stumble on Cleveland, and probably say Pittsburgh…or National Symphony Orchestra.
Brian Trumbore
*Please support StocksandNews…there are big costs behind it. Click on the GoFundMe link or send a check to PO Box 990, New Providence, NJ 07974.
And we have ZELLE: use Zelle recipient briannovak24@gmail.com.
