Wall Street closes with new records despite jobs report
Wall Street closes with new records despite jobs report
A strong reading on US private jobs creation sent Wall Street's three main indexes to record highs helping fan a rally in Asia and Europe
03 June, 2017, 01:35
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". Data from the Labor Department showed that the US economy added 138,000 jobs last month, signficantly below the 185,000 projected in a MarketWatch survey. "Since then, the S&P 500 is up about 400 points", Antonelli said.
The S&P 500 index hit an intraday record at 2,433.33, and was recently trading 2 points, or 0.1% higher at 2,432.
Nine of the 11 major S&P sectors were higher, with the industrials index's 0.35% rise leading the advancers. Both April and March figures were reduced: April's was cut to 174,000 from 211,000, while March was revised to 50,000 from 79,000. They expect the unemployment rate to remain at 4.4%.
Economists had expected around 180,000 jobs to have been created last month. Average hourly wages increased 0.2% to $26.22, in-line with estimates. The report comes ahead of the Federal Reserve's June meeting, where it is expected to raise interest rates. Fed fund futures are pricing in a 93.% probability of a rate hike this month, according to the CME FedWatch tool (http://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html).
The Russell 2000 is up 38.93 points, or 2.9 percent.
Energy blue-chips Exxon Mobil Corp (NYSE: XOM) and Chevron Corp (NYSE: CVX) fell 1.5% and 1.1%, respectively, after President Trump withdrew the United States from the Paris climate accord. The Nikkei 225 index closed above the key 20,000 level, adding 1.6% as the Japanese yen eased against the dollar.
Plus, Lululemon stock swings higher; the Apple supplier headed to new highs; and the retail stock slumping to new lows.
Ed Markey, a Democrat on the Senate Foreign Relations Committee, told CNN: "Nunes is too close to the Trump White House". However, there is speculation that the president might invoke executive privilege to prevent Mr Comey from testifying.
The Prime Minister praised Merkel's "strong leadership" and said a EU-focused vision is what the world needed. Merkel said "days when Europe could completely count on others are over to a certain extent".
Speaking in Berlin about the Paris climate change accord, he said that "China in recent years has stayed true to its commitment". What's an even bigger deal is, if the USA chooses to leave, America would join Syria and Nicaragua as the only non-participants.
Last year, he scored in regulation and converted a penalty kick in the shootout won by Madrid, also against Atletico. Gonzalo Higuain scored two goals in the first leg, as many as in his 24 previous Champions League knockout games.
The aide said two members of Erdogan's security detail were detained on the scene Tuesday by diplomatic security agents. Kheirabadi said he is a Kurd who passed through Turkey as a refugee and is now a US citizen.
Then, the Nerdlucks possessed James Harden's talent, and Houston choked horrifically, losing Game 6 by 39 points at home. James, Irving, and Love helped Cleveland turn around their fortunes to become one of the best teams in the East again.
The weather should be mostly dry during the morning hours with rain and thunderstorms developing during the afternoon/evening. So if you are thinking of trying to plan outdoor activities this weekend, Saturday looks to be the day to set them up.
But creating new music became the one thing that pulled Cabello out of the darkness: "Music just became my saviour", she adds. The "Crying in the Club" singer is the face of the GUESS Jeans Fall 2017 campaign alongside model Alex Dellisola .
Juventus is known for its sturdy defense, but it will be supported by a formidable attacking unit led by Paulo Dybala . The match will be played under a roof for the first time because of fears of a drone attack.
His goal 10 seconds into the third period went down as the game victor , which gives him five during this playoff run. Guentzel scored on a rebound 10 seconds into the third off the pad of Predators goaltender Pekka Rinne.
The notion of world leaders calling each other up via cellphone may seem unremarkable in the modern, mobile world. It was unclear whether an impromptu, informal call with a foreign leader would be logged and archived.
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That's one of the things that will bring you together. there's been a fair amount of it, to be fair, and I hope it will be good". The crucial thing, however, is drawing the correct lessons from a defeat. "I would like a 3-0, but maybe 2-1 to New Zealand ".
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White House says Trump, Merkel 'get along very well'
She recalled that the clause had only been triggered once, after the 9/11 attacks against the United States. Spicer asserted that Trump views not just Germany, but the rest of Europe, as an important American allies.
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Browns trade LB Demario Davis to Jets for DB Calvin Pryor
If you would like to receive an email each time a new New York Jets article is published , fill out our email notification form . So it remains to be seen who'll receive snaps at linebacker alongside Collins and Kirksey when the Browns feature three of them.