Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email Us       Follow Us: 

Search by Ticker, Keyword or CUSIP       
 
 
 
Blog Home
Bob Carey
Chief Market Strategist
Click for Bio

Follow Bob on Twitter Follow Bob on LinkedIn View Videos on YouTube
 

  US Economy and Credit Markets Ended June 2, 2017
Posted Under: Weekly Market Commentary

 
The holiday shortened week recorded higher prices for the stock and bond markets, sending divergent signals to investors. Treasury yields sunk to multi-week lows on Tuesday after the Conference Board reported Consumer Confidence fell in May for the second month in a row. This is a closely watched indicator of current and future optimism because consumer spending is the largest contribution to GDP. Readings have remained above 100, however, indicating that while confidence has waned, it is still positive. The monthly BLS jobs report released on Friday was disappointing and sent bond yields to lows not seen since November. Although the unemployment rate was recorded at 4.3%, the lowest in 16 years, most accompanying data was weaker than expected. The Labor Force Participation Rate fell in May and the number of jobs the economy added was less than forecast for the nonfarm payrolls, private payrolls, and manufacturing payrolls readings. Average hourly earnings YoY came in lower than expected but the MoM reading gained 0.2% as expected. While a tepid job market and weaker inflation outlook have the potential to cause the FOMC to pause in its tightening plan, the market still expects the Fed will raise rates at the June FOMC meeting. Major economic reports (related consensus forecasts; prior data) for the upcoming week include Monday: April Factory Orders (-0.2%, 0.5%), April Durable Goods Orders (-0.5%, -0.7%); Wednesday: June 2 MBA Mortgage Applications (--, -3.4%); Thursday: Initial Jobless Claims (240k, 248k); Friday: April Wholesale Inventories (-0.3%, -0.3%).
Posted on Monday, June 5, 2017 @ 7:45 AM • Post Link Share: 
Print this post Printer Friendly

These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
Search Posts
MARKET ANALYSIS


 PREVIOUS POSTS
Sector Performance Via Market Capitalization In The Current Bull Market
An Update On The “Trump Rally”
US Stocks Ended May 26, 2017
US Economy and Credit Markets Ended May 26, 2017
One Perspective On How Stocks Have Performed So Far In This Millennium
The Outlook For S&P 500 Index Earnings Reflects Strength Through Year-End
US Stocks Ended May 19, 2017
US Economy and Credit Markets Ended May 19, 2017
Investors Don’t Have To Settle For A 2.00% Stock Dividend Yield
A Snapshot Of Moving Averages
Archive
Skip Navigation Links.
Search by Topic
Skip Navigation Links.

 
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
Home |  Important Legal Information |  Privacy Policy |  California Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2022 All rights reserved.