Market Weekly: June 1 – 6 2020

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  • #23843

    [color=purple][i][b]Where have we been and where are we … and wish all a good & safe week ahead
    It’s hard to believe JUNE has arrived & it will be a critical month for re-opening

    The nation-wide rioting/looting must soon end — as it is highly destructive
    and hurts cause of protests more than helps (as criminal element mixes in)
    and the virus will certainly spread as millions of $$$ of damage & even more lives lost

    This too will eventually settle down — as 2020 is one of hardest years ever
    So we need patience & hope & to make most of each day in a positive way[/b][/i][/color]

    [article]2087[/article]

    #23845

    [b][size=5]SPACE-X is great success so far & hope it continues 😆
    NASA live feed below in case other “astro-nuts”
    like me back as young child in 1960s) are out there – lol 8) [/size][/b]
    https://www.nasa.gov/content/live-launch-america-nasas-spacex-demo-2-mission-to-the-international-space-station

    #23846

    [size=5][color=brown][i][b]and on 1st day of JUNE & great sign — I saw brand NEWBORN FAWN
    Just after birth — I saw it rise up & stumble around (almost exactly as u-tube below)
    Our creator created a beautiful ecosystem — and hopefully 2020 gets better in days ahead
    Our daughter got a baby CAT 🙂 — and maybe it will take care of year of [/size]

    #23848

    [color=green][size=5][b]Dow 25,475.02 91.91 0.36%
    S&P 500 3,055.73 11.42 0.38%
    Nasdaq 9,552.05 62.18 0.66%
    GlobalDow 2,773.39 22.67 0.82%
    Gold 1,750.80 -0.90 -0.05%
    Oil 35.50 0.01 0.03% [/b][/size][/color]

    #23851
    Helmholtz Watson
    Participant

    May ISM New York business conditions 19.5 v 4.3 prior

    Prior 4.3
    Index at 811.3 vs 826.5 prior

    New York was the epicentre of the virus in the US and now the riots

    #23852

    [color=limegreen][size=5][b]Dow 25,742.65 267.63 1.05%
    S&P 500 3,080.82 25.09 0.82%
    Nasdaq 9,608.37 56.33 0.59%
    GlobalDow 2,812.80 39.49 1.42%
    Gold 1,735.50 -14.80 -0.85%
    Oil 36.87 1.43 4.03% [/b][/size][/color]

    #23858

    [color=limegreen][size=5][b]Dow 26,269.89 527.24 2.05%
    S&P 500 3,122.87 42.05 1.36%
    Nasdaq 9,682.91 74.54 0.78%
    GlobalDow 2,875.46 102.15 3.68%
    Gold 1,700.30 -33.70 -1.94%
    Oil 36.72 -0.09 -0.24%[/b][/size][/color]

    [size=5][i]And KEEP eye on fast start to HURRICANE season
    as both “A” & “B” storms soaked us in SW VA[/i][/size]

    #23861
    TradersCom
    Keymaster

    China says that it has complained to US about ban on Chinese airlines flights

    Comments by the Chinese commerce ministry – CAAC is in close contact with the US’ department of transportation – Says China made progress on resolving the issue with the US

    #23862
    TradersCom
    Keymaster

    Germany’s ambassador to EU says bloc assumes UK won’t seek Brexit extension

    Comments by Germany’s ambassador to the EU, Michael Clauß speaking about the prospect of the UK extending the Brexit transition period beyond 2020. As the June deadline for that slowly draws to a close, expect both sides to continue playing hard ball until the very last minute – a la Brexit tradition.

    Clauß also says that there is “no real progress” in EU-UK negotiations, so that is something to take note of as talks are still ongoing this week. But again, such an update shouldn’t be much of a surprise all things considered.

    #23866

    [color=green][size=5][b] Dow 26,281.82 11.93 0.05%
    S&P 500 3,112.35 -10.52 -0.34%
    Nasdaq 9,615.81 -67.10 -0.69%
    GlobalDow 2,877.80 2.27 0.08%
    Gold 1,720.10 15.30 0.90%
    Oil 37.34 0.05 0.13%[/b][/size][/color]
    [size=5][i]
    1998 rock hall of fame — one of best songs ever 8)
    and the more Jazzy version by BEACH BOYS may be even better[/i][/size] 😆

    #23870

    [color=green][size=5][b]and a good FRIDAY morning & weekend ahead to all 8)

    WOW – HOLY mother of all reports
    as Gomer Pyle would say “Surprise, surprise, surprise” :woohoo:
    U.S. economy added 2.5 million jobs in May,
    as unemployment fell to 13.3% :silly:

    DOW +700 and roaring higher 😆 😆 😆 😆 [/b][/size][/color]

    #23871

    DOW 27,000

    #23874

    [color=limegreen][size=5][b]Dow 27,110.98 829.16 3.15%
    S&P 500 3,193.93 81.58 2.62%
    Nasdaq 9,814.08 198.27 2.06%
    GlobalDow 2,949.34 69.60 2.42%
    Gold 1,686.90 -40.50 -2.34%
    Oil 39.30 1.89 5.05%[/b][/size][/color]

    #23875

    And MAY 2020 JOBs report indeed is rosier than reality … and #45 and company did NOT manipulate — but more the chaos of counting furloughed workers, difficult to measure during COVID-19, U/E filing delays, etc. Instead of 13% probably should be more like 16% as there is a 3% “gray area” as noted below

    May jobs report had ‘misclassification error’ that made the unemployment rate look lower than it is. Here’s what happened
    https://www.stamfordadvocate.com/business/article/The-May-jobs-report-had-misclassification-error-15320999.php

    [b]When the U.S. government’s official jobs report for May came out on Friday, it included a note at the bottom saying there had been a major “error” and the overall unemployment rate would have been about 3 percentage points higher than reported,” meaning the unemployment rate would be about 16.3 percent for May.

    Some took this as a sign that President Donald Trump or one of his staffers might have tinkered with the data to make it look better, especially since most forecasters predicted the unemployment rate would be close to 20 percent in May, up from 14.7 percent in April. But economists and former BLS leaders from across the political strongly dismissed the idea that Trump or anyone else tampered with the data.[/b]

    #23876

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