Rover's Weekly Market Brief — 6/2/2017

Indices

DJIA: 21,206.30 (+0.60%)

NASDAQ: 6,305.80 (+1.54%)

S&P 500: 2,439.07 (+0.96%)

Commodities

Gold: 1,280.90 (+1.01%)

Copper: 257.55 (+0.37%)

Crude Oil: 47.80 (-4.02%)

Economy

Increases in private wages and salaries led to a +0.4% increase in personal income in April’s Personal Income and Outlays report. Personal Consumer Expenditures (PCE) also increased by +0.4%, led by increased purchases of recreational goods and vehicles, and gasoline. The PCE core price index, the Federal Open Market Committee’s (FOMC) preferred measure of inflation, was up by +0.2% after March’s -0.1% decrease, bringing the Y/Y core price index to +1.5%, which is below the FOMC’s target +2.0%.

May’s unemployment rate dropped to 4.3%, with a decrease of 429,000 in the civilian labor force overriding the effect of a decrease of 233,000 in the number of employed. A lower than expected 138,000 jobs were added, with downward revisions for new jobs in March from +79,000 to +50,000 jobs and for April from +211,000 to +174,000 jobs. The average workweek was unchanged at 34.4 hours, and average hourly earnings were up +0.2% M/M, and 2.5% Y/Y.

The trade deficit widened by 5.2% in April to $-47.6 billion from a March deficit revised from $-43.7 billion to $-45.3 billion. Exports declined by -0.3% to $191 billion, with notable export declines for autos, telecommunications equipment and pharmaceuticals. Increases in imports for cell phones, computers and computer accessories helped raise total imports by +0.8% to $238.6 billion.

Upcoming Economic Reports:

Monday June 5 – Productivity and Costs

Monday June 5 – Factory Orders

Earnings Calendar:

 

Monday Tuesday Wednesday Thursday Friday
Thor Industries
(THO)
SoftBank Group
(SFTBY)
Sampo
(SAXPY)
Vail Resorts
(MTN)
Nathan’s Famous
(NATH)
Casey’s General Stores
(CASY)
Genmab
(GNMSF)
Mazda Motor
Networks
(MZDAY)
Auto Trader Group
(ATDRY)
Volt Information Sciences
(VISI)




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