Tag: Mid-Day Report

Hello MarketClub members everywhere. The markets are flat heading into the close of trading today. The cause? The U.S. economy added 98,000 jobs last month vs. the expected gain of 180,000. Wage growth was not as strong either, with average hourly earnings up by 2.7 percent on an annualized basis. However, the unemployment rate fell to 4.5% from 4.7%.

Futures and Treasury yields slipped after the jobs report was released, with the 10-year note yield briefly dipping below 2.3 percent to hit its lowest level since late November.

Key levels to watch this week: Continue reading "Mixed Employment Report Befuddles The Market" →

Hello MarketClub members everywhere. The DOW is on pace for its best day in over a month, and the NASDAQ hit a new all-time high this morning. The move was due to U.S. companies adding 263,000 workers in March as reported by ADP, the most since December 2014. Economists had expected 187,000 jobs to be added in the month.

Next, on deck, this afternoon is the release of the FOMC minutes from their March meeting. As you know, the FED raised rates by 25 basis points but kept its 2017 outlook largely unchanged.

Key levels to watch this week: Continue reading "Solid Jobs Data Pushes Market Higher" →

Hello MarketClub members everywhere. The markets are mixed Wednesday as traders assess the start of Brexit, which is Britain's divorce from the European Union. Of course, this was expected, and the market's reaction shows that.

Crude oil is on the move today, gaining almost 2% on the second day of gains. This came after the government reported a larger-than-projected decline in U.S. gasoline inventories.

Key levels to watch this week: Continue reading "Markets Mixed As Brexit Starts" →

Hello MarketClub members everywhere. Stocks have bounced back from their session lows as traders turn their attention to some key White House proposals that include tax reform.

The Dow was down as much as 183 pts this morning, continuing an eight-day streak of losses The S&P 500 pulled back 0.1%, also off its session lows. The Nasdaq has recovered from earlier losses to trade 0.2% higher.

Crude oil has fallen today, continuing the trend from last week as a pledge by OPEC-led producers to consider extending their output cut deal failed to excite traders. They expressed concern that they will need more time to trim global stockpiles.

Key levels to watch this week: Continue reading "Stocks Recover From Early Losses" →