While the excuses are already flowing for the big miss in August’s payrolls, markets are reacting with currencies the biggest factor. Yields are now unchanged… The dollar dumped immediately and precious metals spiked, bond yields fell marginally and while Nasdaq jumped a little initially, stocks are now all modestly lower…...
This morning’s employment report for August showed a 156K increase in total nonfarm payrolls, which was worse than forecasts. The unemployment rate ticked up to 4.4%. The Investing.com consensus was for 180K new jobs and the unemployment rate to remain at 4.3%. June and July nonfarm payrolls were revised for a total loss of 41K. Here is an excerpt from the Employment Situation Summary released this morning by the Bureau of Labor Statistics: Total nonfarm payroll employment increased by 156,000 in August, and the unemployment rate was little changed at 4.4 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurre...
After yesterday’s RBOB gasoline futures expiration blow out, the Trump Administration is pulling out all the stops to try to reduce shortages of gasoline and try to calm down soaring prices. Driven by massive refinery outages and fears of deliverable supply, gas was on high octane. The September RBOB gasoline futures surged at one point higher by more than 28 cents a gallon, driving the wholesale price of gasoline to the highest level in over two years. Retail prices also hit a new high for the year according to triple A and you can expect more price increases, if not spikes, coming at the pump. A release from the Strategic Petroleum Reserv...
Event: US Home Prices Date: Tuesday 29 August 2017 at 13:00 GMT Markets affected: EUR/USD, USD/JPY Trending hashtags: #usd, #homes Standard & Poor’s Case-Schiller Home Prices index for June showed steady increase confirming how an improved jobs market driving demand combined with reduced supply of homes is having an effect on costs. Home Prices came in at the expected 5.7% increase in the surveyed metropolitan areas – similar to the previous month’s growth. Seattle, Dallas and Portland saw the biggest annualised rises with both the number of homes on the market and the length of time on the market have reduced. Event: Japan Retail T...
Lower than expected data in the US: only 156K jobs were gained and wages went up by 0.1%, lower than expected on both fronts. The participation rate was unchanged at 62.9%. Wages y/y are still at an annual pace of 2.5%. Overall, not a great report on both wages and headlines growth in jobs. The US dollar is reacting to this news as its slides against the majors including the Euro and Yen — the dollar weakness returns. Expectations: The US was expected to report a gain of around 180K jobs in August after 209K in July (before revisions). Wages were expected to rise 0.2% after 0.3% and they remain key. This jobs report has all the ingredi...
The Chart of the Day belongs to EnviroStar (EVI). I found the laundry equipment stock by using Barchart to sort today’s All Time High list first for the highest Weighted Alpha, then again for technical buy signals of 80% or more. Since the Trend Spotter signaled another buy on 8/14 the stock gained 12.07%. This stock is a momentum play only EnviroStar, Inc., through its main subsidiary Steiner-Atlantic Corp., distributes industrial boilers, commercial laundry and dry cleaning equipment, parts and technical service in the United States, the Caribbean and Latin America. Their products include their proprietary lines of machines ...
– All four precious metals outperform markets in August– Gold posts best month since January, up nearly 4%– Gold reaches highest price since US election, climbs due to uncertainty and safe haven demand – S&P 500 marginally higher; Euro Stoxx, Nikkei lower for month– Platinum is best performing metal climbing over 5%– Palladium climbs over 4% thanks to seven year supply squeeze– Fear, uncertainty and political sanctions are amongst biggest drivers for precious metals– Never been a better time to diversify and rebalance portfolios with stocks and bonds near record highs and looking vulnerable Market Performance in August (F...
It is time for the most exciting dividend month of the quarter! There is nothing more exciting than seeing the calendar turn and realizing that it is the month that most companies pay their dividend. This is where you really see the fruits of your investing labor and the power of dividend investing flex its muscle. For those of you that are new to our website, each month we create a list of some (not all) companies that are expected to increase their dividend in the coming month. Dividend increases are the name of the game and what we are constantly monitoring on our website; we get pretty darn excited each time a company announces an incre...
With both the S&P and global stocks once again inching back to all time highs, here are some gloomier observations from Bloomberg’s EM commentatory Garfield Reynolds, who has covered and traded FX, bonds and commodities over two decades. Down Under Doldrums Challenge Global Growth Hopes: Macro View The latest burst of chatter that global growth is finally gathering momentum seems overdone in a world beset by geopolitical nightmares of war and debt deadlock, as well as the nagging concern of demographic-driven disinflation. And the recent slump for the key risk proxies among the G-10 currencies — the Aussie and kiwi dollars ...