Market Weekly: June 4 – 8 2018

Viewing 15 posts - 16 through 30 (of 36 total)
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  • #16903
    TradersCom
    Keymaster

    Canada Q1 labor productivity -0.3% vs +0.2% prior
    Hours worked +0.5%
    Hourly compensation +0.4% vs +1.6% prior
    Unit labor costs +0.7%
    Real GDP +0.2%
    Doesn’t sound too efficient …

    #16906
    TradersCom
    Keymaster

    US May Markit final services PMI 56.8 vs 55.7 expected

    Initial reading was 55.7, Prior 54.6
    Composite PMI 56.6 vs 55.7 initial

    #16907
    TradersCom
    Keymaster

    May US ISM non-manufacturing index 58.6 vs 57.6 expected, Prev 56.8

    Business activity 61.3 vs 59.1 prior
    Prices paid 64.3 vs 61.8 prior
    New orders 60.5 vs 60.0 prior
    Employment 54.1 vs 53.6 prior

    Highlight from ISM:

    “Since the last report, our foil lid supplier stated that the tariff on aluminum has caused supply interruptions and higher costs. A price increase was instituted by the supplier.” (Agriculture, Forestry, Fishing & Hunting)
    “Material prices have been difficult to predict this year, and suppliers have struggled to hold prices for any extended period on quotes, specifically on lumber and lumber-related products. The instability has proven frustrating, but a larger problem is that we are starting to see longer lead times in many of the same areas that could start impacting timelines if they continue to get worse as we get into the main building season.” (Construction)
    “After a challenging 2017 that ended strong, 2018 is off to a good start. Volume from existing clients as well as new sales are up, although the growth is marginal. May is showing a continuation of the monthly growth when measured over [the] previous year, leading to optimism for the rest of 2018.” (Management of Companies & Support Services)
    “The trade discussions with NAFTA, Korea and the European Union will have critical impacts on our spend relating to steel products. Also, the potential of the U.S. pulling out of the Iran nuclear deal could push crude prices higher.” (Mining)
    “Business is starting to increase. We have spent two years reducing our inventories to a level to support the current business climate. Now the uptick is faster than anticipated and supply is out of alignment with demand, which is causing many stockouts and shortages, and the need to expedite inventory. In shipping, we still [are] experiencing a shortage of domestic trucking resources (especially flat beds) and international shortage of flat racks. We [are] working to minimize the impact of the tariff on steel and aluminum.” (Other Services)
    “Oil price stabilization in the (US) $60 to $70 per barrel [is] having a positive impact on hiring, both contract labor and direct employees, in the oil and gas industry and supporting industries.” (Professional, Scientific & Technical Services)
    “Shortage of qualified labor and services personnel.” (Public Administration)
    “Sales over the last month have been very strong. We are still struggling with the fluctuation in commodity costs and the weakening U.S. dollar.” (Retail Trade)
    “The supply chain is shuttering because of a lack of drivers and equipment causing delays in multiple modes of transportation. The activity to adjust to this is not causing stockouts yet, and we are increasing inventory levels in anticipation of worsening conditions.” (Wholesale Trade)

    #16910

    [i][color=purple][b]^^^ Thanks for all great breaking news by all ๐Ÿ™‚

    NASDAQ & R2K are at ALL TIME HIGH levels ๐Ÿ˜†

    As this appears not to be a “sell in MAY and go away type year :whistle:

    But FOMC will put a damper to things later in Month :woohoo:[/b][/color][/i]

    #16919

    [color=limegreen][size=5][b]Dow Jones 24,799.98 โˆ’13.71 (0.055%)
    S&P 500 2,748.80 +1.93 (0.070%)
    Nasdaq 7,637.86 +31.40 (0.41%)
    Russ 2000 1,664.63 +11.25 (0.68%)
    NYSE Comp 12,658.70 โˆ’15.21 (0.12%)[/b][/size][/color]

    #16922
    TradersCom
    Keymaster

    U.S. Trade Deficit $46.2 Billion, With China $27.96 Billion

    US April Trade

    #16924
    MoneyNeverSleeps
    Participant

    Green again here 2760 ES

    Some bullish headlines

    White House said to discuss new Canada tariffs – report
    NORTH KOREA IS IN PROCESS OF RAZING IHA-RI TEST STAND: 38 NORTH
    โ€BANK OF ENGLAND’S MCCAFFERTY SAYS LOW INTEREST RATES ARE LIKELY TO BE WITH US FOR QUITE SIGNIFICANT PERIOD OF TIME: RTRS
    DOJ WATCHDOG IS SAID TO FIND THAT COMEY DEFIED AUTHORITY: ABC

    #16925
    MoneyNeverSleeps
    Participant

    [b]European major stock indices closes
    [/b]German Dax rose 0.4%
    France’s CAC fell -0.1%
    UKs FTSE rose 0.4%
    Spain’s Ibex rose +0.7%
    Italy’s FTSE MIB rose 0.26%
    Portugal’s PSI20 rose 0.50%

    10 year debt yields moved higher on the back of the ECB hints of QE exit:
    Germany 0.463%, up 9.3 bps
    France 0.8%, up 10.4 bps
    UK 1.372%, up 8.9 bps
    Spain 1.501%, up 10.5 bps
    Italy 2.944%, up 15.4 bps
    Portugal 1.95%, up 9.5 bps

    #16930

    [color=limegreen][size=5][b]SUPER GREEN – HOLY COW ๐Ÿ˜‰ ๐Ÿ˜†

    Dow Jones 25,146.39 +346.41 (1.40%)
    S&P 500 2,772.35 +23.55 (0.86%)
    Nasdaq 7,689.24 +51.38 (0.67%)
    Russell 2000 1,675.95 +11.32 (0.68%)
    NYSE Comp 12,778.23 +119.53 (0.94%)[/b][/size][/color]

    #16931

    WOW – THANK YOU WALL STREET … BACK TO 25,000 PLUS ALL TIME NASDAQ & R2K HIGHS 8)

    #16932
    ClemSnide
    Participant

    It feels like a lot of shorts are under here on the SPX – saw the same in oil today bearish number downside was tested after a big gap down on the EIA report and dribbled u[ all day.

    Clearly rotation going on with NDX also – so is it negative divergence with SPX lagging or positive with SPX to catch up? The QE era has distorted so many old relationships.

    #16948
    Truman
    Participant

    One would think the upcoming G-7 would have some nerves – all we see is rotation out of tech into Dow stocks

    #16949
    Truman
    Participant

    US consumer credit smallest rise in 7 months

    April rose $9.26B vs $14B expectations, Prior $12.278B vs $11.622B prior

    Annual rate rise of 2.9% to $3.883T

    Revolving rises $2.26B vs -$1.10B prior month.
    Annual change of 2.6% to $1.031T

    Revolving credit rises $7B vs $13.4B prior month.
    Annual change of 3.0% to $1.181T

    #16950

    As Blarney made great earlier call of rotating out of record high NAZ & R2K stocks into DOW 8)

    [size=5][b][color=green]Dow Jones 25,241.41 +95.02 (0.38%)
    [/color][color=red]S&P 500 2,770.37 โˆ’1.98 (0.071%)
    Nasdaq 7,635.07 โˆ’54.17 (0.70%)
    Russell 1,667.77 โˆ’8.17 (0.49%)[/color] [/b][/size]

    #16951
    TradersCom
    Keymaster

    The G7 will be a lot of noise next few days – good time to lock in some profits. Today was a Bilderberg meeting over in Europe no doubt the members are a bit concerned with some of the globalists being pulled apart.

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