tyb and good morning
US Mkt Report
Stock market poised to climb after better-than-expected jobs report with unemployment at a 49-year low
Stock-index futures climbed on Friday morning after a higher Friday after a hotter-than-expected report on employment for April.
The economy generated a stronger than expected 263,000 new jobs in April, helping to drive down the unemployment rate to a 49-year low of 3.6%. The increase in new jobs easily topped the 217,000. The jobless rate slid from 3.8% in March to hit the lowest level since December 1969. The average wage paid to American workers rose 6 cents, or 0.2%, to $27.77 an hour. The 12-month rate of hourly wage gains was unchanged at 3.2%.
Global stocks were higher, with European markets and US equity futures a sea of green on the last day of the week, as China and Japan remained closed for holidays, as world stocks battled to avoid their first weekly fall in six weeks on Friday while investors waited to see if April US jobs data would give the Federal Reserve another reason to dismiss rate cut calls.
While Asian stocks were broadly flat, mostly due to subdued volumes as China and Japan remain closed, and the MSCI Index of Asian stocks closing just 0.02% higher, it appears that Asia once again was instrumental in pushing US futures higher as the Emini rebounded as Hong Kong shares rose 0.4 percent, while Australia gained 0.1%, while Korea’s KOSPI dipped 0.5 percent.
There was more action in Europe, whose bourses were higher across the board as earnings from banks HSBC and Societe Generale cheered traders and encouraging Adidas profits sent the German sportswear firm’s shares surging 7% to a record high.
Yet while stocks were broadly higher, bond and commodity markets remained firmly on the backfoot with most benchmark government bond yields up and Brent sliding back toward $70 a barrel again for what will be its worst week in over two months.
In the currency markets, the dollar strengthened, and the BBDXY rose to session highs ahead of the payrolls report although it may dip soon as an army of Fed doves hits the microphones:
there are no less than eight Federal Reserve policymakers due to speak on Friday.
Market Snapshot
S&P 500 futures up 0.4% to 2,928.00
STOXX Europe 600 up 0.3% to 390.15
MXAP up 0.02% to 162.61
MXAPJ up 0.02% to 540.03
Nikkei down 0.2% to 22,258.73
Topix down 0.2% to 1,617.93
Hang Seng Index up 0.5% to 30,081.55
Shanghai Composite up 0.5% to 3,078.34
Sensex up 0.4% to 39,153.64
Australia S&P/ASX 200 down 0.04% to
6,335.80
Kospi down 0.7% to 2,196.32
German 10Y yield rose 1.3 bps to 0.043%
Euro down 0.07% to $1.1164
Brent Futures down 1% to $70.06/bbl
Italian 10Y yield fell 0.3 bps to 2.181%
Spanish 10Y yield rose 0.2 bps to 0.999%
Brent Futures down 1% to $70.06/bbl
Gold spot down 0.05% to $1,270.07
U.S. Dollar Index up 0.06% to 97.89
'''US Event Calendar
8:30am: Change in Nonfarm Payrolls, est.
190,000, prior 196,000
Unemployment Rate, est. 3.8%, prior
3.8%
Average Hourly Earnings MoM, est. 0.3%,
prior 0.1%
Average Hourly Earnings YoY, est. 3.3%,
prior 3.2%
Underemployment Rate, prior 7.3%
Wholesale Inventories MoM, est. 0.2%,
prior 0.2%; Retail Inventories MoM, est.
0.1%, prior 0.3%
9:45am: Markit US Services PMI, est. 52.9,
prior 52.9; Markit US Composite PMI, prior
52.8
10am: ISM Non-Manufacturing Index, est.
57, prior 56.1
10:15am: Fed’s Evans Speaks at NABE
International Forum in Stockholm
11:30am: Fed’s Clarida Speaks at Hoover
Institute Policy Conference
1:45pm: Fed’s Williams Speaks at Hoover
Institute Policy Conference
3pm: Fed’s Bowman Speaks at Hoover
Institute Policy Conference
7:45pm: Fed’s Bullard, Daly, Kaplan and
Mester Speak at Hoover Event
https://www.zerohedge.com/news/2019-05-03/global-markets-sp-futures-sea-green-ahead-payrolls
https://www.dailyfx.com/crude-oil
https://www.marketwatch.com/investing/bond/tmubmusd10y?countrycode=bx
kindof got creamin' jean's and marked it notable just below your post saying that.
just my opinion but I don't think putting in someone like that now would be a good idea…(I fully believe he is the right choice) since it is going buh-bye, for optical reason's you would not want the one who has been so against it to be heading it when that ship run's aground. Leave JP in to run it into the shoals-so to speak. replace munchkins with RP.
=Hershey Trust selling shares in Hershey Co.
Although the % of sale's to available share's is low and does not exceed the normal criteria for these panel's-it is being included as, technically there is no 1 individual repsponsible for selling these share's. That a trust is selling shares mean's several people have made this decision. It's something to watch for going forward. HAve seen a few of these and the dollar amount's are fairly high. Will be including these going forward.
As alway's you can find these in the meme folder-now have a shill in there bitching about them. Funny.
https://www.secform4.com/insider-trading/47111.htm
Roger
WTF is that anyway?