Hello MarketClub members everywhere. U.S. job growth rebounded sharply in April and the unemployment rate dropped to 4.4%, that’s near a 10-year low, pointing to a tightening labor market that could seal the case for an interest rate increase next month despite moderate wage growth.
Non-farm payrolls surged by 211,000 jobs last month, well above the monthly average of 185,000 this year and a jump from the gain of 79,000 in March.
Crude Oil has stabilized after dropping to nine-month low 43.76 in the early morning hours. This decline in prices is primarily driven by an ever-expanding U.S. output and on concerns that global inventories haven’t fallen as much as investors had hoped after OPEC cut production.
Key levels to watch next week:
S&P 500 (CME:SP500): 2,332.51
Dow (INDEX:DJI): 20,379.55
NASDAQ (NASDAQ:COMP): 5,818.20
Gold (NYMEX:GC.M17.E): 1,272.40
Crude Oil (NYMEX:CL.M17.E): 49.32
U.S. Dollar (NYBOT:DX.M17.E): 99.29
Every Success,
Jeremy Lutz
INO.com and MarketClub.com
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