The U.S. stock market indexes gained between 1.3% and 1.7% on Friday, retracing most of their last week’s move down, as investors reacted to monthly jobs data release. The S&P 500 index got closer to its Monday’s local high, and it currently trades 7.3% below January 26 record high of 2,872.87. The Dow Jones Industrial Average gained…
On Friday, the BLS updated hourly wages and jobs information. Let’s backtrack to the start of the recovery for details. Hourly Wages by Job Classification Year-over-year, hourly wages are up 2.6%. That is barely keeping up with inflation, assuming you believe BLS consumer price statistics. Regardless, it certainly makes a huge difference where you work….
Overnight Markets And News Jun E-mini S&Ps (ESM18 +0.37%) this morning are up +0.35% on strength in energy stocks as Jun WTI (CLM18+1.15%) climbs +0.93% to a 3-1/2 year high. Crude oil prices continue to rally on speculation President Trump will decide by May 12 to pull out of the Iran nuclear deal and re-impose sanctions…
You know that “global slowdown” narrative that seems to be gradually supplanting the “synchronous global growth” meme that dominated in 2017? Yeah, so that was reinforced a bit on Monday when this hit: GERMAN FACTORY ORDERS FALL 0.9% VS. EST 0.5% INCREASE That’s obviously not great, and it just serves to underscore the notion that…
Real estate investment trusts (REITs) in the US again posted the biggest weekly gain among the major asset classes, based on a set of exchange-traded products. The ongoing bounce for REITs contrasts with a generally down week for most markets over the five trading days through May 4. Vanguard Real Estate (VNQ) rose 1.2% last week, lifting…
After opening the day in green, share markets in India continued the momentum throughout the day and ended the day in green. Sectoral indices were mixed, with stocks in the IT sector and stocks in the banking sector leading the gains. At the closing bell, the BSE Sensex stood higher by 293 points (up 0.8%) and the NSE Nifty closed up by 97 points (up…
GBP/USD 4 hour The GBP/USD is making a bullish bounce after failing to break below the support trend line (blue). The trend, however, remains bearish and the current rally could only be a retracement. Price action stays bearish as long as price remains below the resistance trend line (red) but a bullish break above the…
Global stocks and US equity futures are in the green, despite the dollar rebounding to session highs overnight, putting already nervous emerging markets on edge, while oil rising to a 3 year high above $70 is set to pressure corporate margins even more. In the otherwise quiet overnight session which saw yet another disappointing European…
The US dollar recovered from a softer tone in early Asia and is higher against nearly all the major and emerging market currencies as North American market prepare to start the new week. The news stream is light and investors remain on edge geopolitical concerns remain elevated. Oil prices are extending gains, and WTI is above…
Gold ended the week down $8.12 at $1314.59 an ounce, recording a third consecutive weekly loss, as the recent solid rally in the U.S. dollar index continued to curtail buying interest in the market. Also working against the safe-haven metal are the risk-on trading/investing attitudes in the world marketplace. The latest data from the Commodity…
