Market Weekly: May 28 – June 1 2018

Viewing 12 posts - 16 through 27 (of 27 total)
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  • #16829

    [color=red][size=5][b]PPPPPLLLLUUUNNNGGGGGGEEEEE … DOW down about 200 points :woohoo:

    New TARIFFs go into affect for EU, Canada, & Mexico :ohmy:[/b][/size][/color]

    [b]https://www.marketwatch.com/story/us-to-impose-tariffs-on-steel-aluminum-imports-from-canada-mexico-eu-2018-05-31
    [/b]

    #16831
    TradersCom
    Keymaster

    Tarrifs and Deustche bank Overhang

    Note the WTI oil price plunged as the Brent WTI spread unwound so that affected XOM and CVX who were big part of dow run yesterday

    #16840

    [size=5][color=red][b]Dow Jones 24,415.84 −251.94 (1.02%)
    S&P 500 2,705.27 −18.74 (0.69%)
    Nasdaq 7,442.12 −20.34 (0.27%)
    Russell 1,633.61 −14.38 (0.87%)[/b][/color][/size]

    #16848
    ThePitBoss
    Participant

    Strong jobs report – wages up too so Fed back on track – for SPX needs to get over 2744 or so to get shorts buying IMO

    Report https://traderscommunity.com/index.php/economy/836-what-to-expect-with-u-s-employment-report-2

    #16851

    RALLY TIME — DOW up +200 🙂 … +223,000 JOBS @ 3.8% 😆

    #16853
    TradersCom
    Keymaster

    More good numbers

    May ISM manufacturing highest since march
    58.7 vs 58.2 expected prior 57.3
    #Employment 56.3 vs 54.2 prior
    Prices paid 79.5 vs 79.3 prior
    New orders 63.7 vs 61.2

    #16854
    TradersCom
    Keymaster

    and more:::

    US construction spending best number since Jan 2016

    US April construction spending +1.8% vs +0.8% expected, Prior -1.7%

    #16857
    TradersCom
    Keymaster

    A bit lower but still strong:

    US May final Markit manufacturing PMI 56.4 vs 56.6 Flash, prior 55.5
    New orders 58.0 vs 58.1 flash

    #16861
    The
    Participant

    Was good to see the “Quality” of jobs created was strong. After reading the BLS data and Employment Situation Summary released early this morning, had to laugh at some financial tabloid media websites (aka MW) because they only emphasized the number of retail and healthcare services type jobs which were created …. while largely ignoring all the other categories of jobs created. Retail and (quite a few types) of healthcare services (ex. home healthcare aides) are often considered by economists as “historically low paying industries”, which is what made it humorous that those financial tabloids intentionally overlooked all the other types of jobs.

    “Quality of jobs created” is just as important as “quantity of jobs created”, as we all know.

    Nonfarm payrolls by industry sector and selected industry (aka Table B-1): https://www.bls.gov/news.release/empsit.t17.htm

    My 1st read in the morning on BLS Friday’s: https://www.bls.gov/news.release/empsit.nr0.htm

    #16864
    The
    Participant

    [quote=”TradersCom” post=6629]More good numbers

    May ISM manufacturing highest since march
    58.7 vs 58.2 expected prior 57.3
    #Employment 56.3 vs 54.2 prior
    Prices paid 79.5 vs 79.3 prior
    New orders 63.7 vs 61.2[/quote]

    “The 57.2 percent reported indicating growth in production for the 21st consecutive month.

    “Production expansion continues; reversing four months of expansion slowing and contributing positively to PMI expansion in May. Labor constraints and supply chain disruptions, however continue to limit full production potential.””

    https://www.instituteforsupplymanagement.org/ISMReport/MfgROB.cfm?SSO=1

    #16865


    [color=limegreen][size=5][b]STRONG GREEN FINISH
    DOW = +219, NAZ = +112, SP500= +29[/b][/size][/color]

    #16877
    The
    Participant

    [quote=”CautiousInvestor” post=6580]and even #1 ROSANNE show was just cancelled by ABC — for some bad twitterstorms early this morning 😉 :woohoo:

    https://www.mediaite.com/online/roseanne-barr-goes-on-wild-and-racist-tweetstorm-about-clintons-george-soros-chris-cillizza/[/quote]

    One has to be so careful of the internet anymore.

    As our friend CI always says do not post anything online that one would not say in church or before a jury of your peers. That’s exactly why I suddenly began coming here after meeting “the dark side” at MuppetWatch. For 17 months non-stop all I had to do was post any on-topic or non-offensive comment and one of their paid trolls who admitted they were an Atheist would immediately show-up to begin harassing, cyber-bullying, as well as making vile and vicious comments … and that particular troll even admitted they were “stalking” me on MW.

Viewing 12 posts - 16 through 27 (of 27 total)
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