S&P 500 misses a record | AMC up nearly 15% | SEC watching volatility in some stocks

The S&P 500 edged down slightly on Monday, failing to top its record high from May once again and declining to pick a winner in the debate about where stocks will go next. 

VIEW IN BROWSER | SUBSCRIBE MON, JUN 07, 2021 EVENING BRIEF AS OF MON, JUN 07, 2021 • 05:03 ET DJIA 34630.24 -0.36% -126.15 S&P 500 4226.52 -0.08% -3.37 NASDAQ 13881.72 +0.49% +67.23   Most Active DOW NAME LAST CHG %CHG AAPL 125.90 +0.01 +0.01% MSFT 253.81 +3.02 +1.20% INTC 57.09 -0.28 -0.49% S&P 500 NAME LAST CHG %CHG F 15.88 -0.09 -0.56% AAPL 125.90 +0.01 +0.01% GE 13.91 -0.05 -0.36% NASDAQ NAME LAST CHG %CHG AAPL 125.90 +0.01 +0.01% SIRI 6.60 +0.13 +2.01% AMD 81.35 -0.23 -0.28%   EDITOR'S NOTE The S&P 500 edged down slightly on Monday, failing to top its record high from May once again and declining to pick a winner in the debate about where stocks will go next.    From one angle, the index has churned near record highs despite rising concerns about inflation, a change in policy from the Federal Reserve and possible tax increases, potentially leaving room for upside if one of those risks subsides.   From another viewpoint, the broad market has mostly traded sideways for more than a month and looks to have little momentum one way or another, which can make some traders nervous.   Wall Street strategists are generally bullish on the market, though few are predicting a significant jump from this point. The average year-end target for the S&P 500 in CNBC's strategist survey is about 1% above where the index was trading on Monday afternoon.    JPMorgan's Marko Kolanovic said in a note on Monday that the market was poised for another leg higher, likely led by value and cyclical plays. Bank of America technical strategist Stephen Suttmeier said that the S&P 500, Nasdaq and Russell 2000 all had bullish trading patterns.    On the other hand, Morgan Stanley's Mike Wilson said that the market looks close to topped out given the potential roadblocks ahead.    "Our core belief remains that broad equity upside is limited with de-rating, peak revisions, tapering, and higher taxes ahead," Wilson said in a note. Jesse Pound | CNBC Markets Reporter @jesserpound TOP NEWS  Dow falls more than 100 points to start the week, S&P 500 struggles to reach new high Biogen shares rise 38% after FDA approves Alzheimer's drug, the first new therapy for the disease in nearly two decades AMC stock jumps nearly 15% as retail-fueled rally stretches to another week AMC insider selling picks up as meme stock rises amid retail wave SEC says it's monitoring the ongoing volatility in certain stocks, vows to protect retail investors The Fed is in early stages of a campaign to prepare markets for tapering its asset purchases Apple just announced big new iPhone and iPad software updates — here's what's new AMC's aggressive post-pandemic strategy could pay off as moviegoers flock back to cinemas Market returns are much worse when inflation is high, Goldman says. Here's how to play it Interactive Brokers founder: Don't short AMC, meme stocks — they can soar to 'unimaginable highs'   TOP VIDEO Apple reveals iOS 15 at WWDC   CNBC PRO JPMorgan's top equity strategist Kolanovic says the next market leg higher is coming soon   SPECIAL REPORTS Forget AMC. Two traders share their own high-risk, high-reward stock bets Deutsche Bank warns of global 'time bomb' coming due to rising inflation   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS