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Dow Jones Futures: Market Rally Eyes Inflation Data; GME Stock Falls On Share Sale Plans; RH Earnings Surge

Posted Date: June 10 2021
Dow Jones futures and S&P 500 futures edged higher Thursday morning, while Nasdaq futures declined modestly. The stock market rally fell slightly Wednesday, while Treasury yields touched recent lows ahead of key inflation data. GME stock and RH earnings were in focus after the close.
GameStop (GME), the original meme stock, topped Q1 earnings forecasts and named a new CEO and CFO, adding to its stable of former (AMZN) executives. The company also said it plans to sell up to 5 million shares "at the market" and announced an SEC probe into the trading of its shares. GME stock fell overnight, but pared initial losses.
That followed a generally weak session for Reddit-fueled stocks. Clover Health (CLOV) reversed lower and AMC Entertainment (AMC), Wendy's (WEN) and Bed Bath & Beyond (BBBY) all retreated. Lordstown Motors (RIDE) whipsawed to unchanged. Some new meme stocks took off including already-hot steelmaker Cleveland-Cliffs (CLF).
RH (RH) nearly quadrupled earnings in the first quarter, with sales soaring. RH stock jumped, flashing early buy signals.
Signet Jewelers (SIG) is due early Thursday. SIG stock closed just below its 50-day line. A strong post-earnings move would offer an early entry as Signet works toward a flat-base buy point.

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