Friday, 20 October, 2017

Data propel S&P, Nasdaq to record highs; oil steadies

The May jobs report was a bit of a disappointment The May jobs report was a bit of a disappointment
Mae Harvey | 03 June, 2017, 02:13

Job gains are slowing as the labor market nears full employment."It's not really an outlier just a little bit disappointing based on consensus expectations which were maybe a little bit high", said Sameer Samana, global quantitative analyst at Wells Fargo Investment Institute in St. Louis."Almost all the numbers when compared to the six and twelve month moving averages, are very much in line with continued improvement in the economy and the labor market".

The Institute for Supply Management said its barometer of USA factory activity edged up to 54.9 last month from 54.8 in April, while ADP reported private payrolls grew by 253,000 last month, beating analysts' median forecast of a 185,000 increase.

The MSCI world equity index .MIWD00000PUS , which tracks shares in 45 nations, rose 2.41 points or 0.52 percent, to 466.2. The Dow Jones Industrial Average close up 55 points, or 0.3%, to 21,200, adding 0.6% on the week. The Nasdaq Composite gained 1.5% this week after rising 0.9%.

Nonfarm payrolls increased by 138 000 last month, below the 185,000 expected by economists.

Gold prices rose in the wake of the jobs data (http://www.marketwatch.com/story/gold-lower-headed-for-weekly-drop-on-forecasts-for-strong-jobs-tally-2017-06-02). New records in sight?: US stock markets hit record levels on Thursday and the momentum is set to continue.

According to the report, the May PMI (Purchasing Managers' Index) registered 54.9 percent, an increase of 0.1 percentage point from the April reading of 54.8 percent, beating market expectations.

How to Watch the NHL Stanley Cup Finals Pittsburgh vs
Rinne entered the game leading the playoffs in wins (12) and goals-against average (1.83) while posting a.934 save percentage. The Penguins took all four games from a Blackhawks team that had won 11 straight games going into the Stanley Cup Final.

Philippine army hits own troops, kills 10 in Marwai City
Philippine Defense Secretary Delfin Lorenzana told media that "a group of our military armed men were hit by our own airstrikes". Eduardo Ano, the military chief of staff, said of the gunmen, speaking at a hospital where injured soldiers were being treated.

Rays promote 2 pitchers, send 1 down, put Bourjos on DL
Ramirez (3-0, 2.92 ERA) will make his fourth start of the season roughly 24 hours after finishing out his 12th relief appearance. Danny Farquhar served up a two-out, three-run homer to Rangers shortstop Elvis Andrus in the seventh to square the game up, 5-5.

The Nasdaq composite rose 48.31, or 0.8 percent, to 6,246.83.

The S&P 500 is up 191.23 points, or 8.5 percent.

Oil majors Exxon and Chevron were down about 0.5%.

OH, DEERE: Deere shares rose $2.20, or 1.8 percent, to $124.66 after it agreed to buy Wirtgen Group, a German maker of road-construction equipment for about 4.6 billion euros, or $5.2 billion.

The Dow is up 1,443.69 points, or 7.3 percent. The report comes ahead of the Federal Reserve's June meeting, where it is expected to raise interest rates.

Energy stocks in the S&P 500 rose 0.7%, though they are down 1.1% so far this week.

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