Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News

News :
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 

TrackInsight: Stocks higher… despite a stellar jobs report in the U.S.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/09/2019 | 11:15am EDT

Week from July 1 to 7, 2019

Map Weekly Flow FR 09.07.19
With light trading volumes, stocks declined slightly on Friday as the U.S. economy added 224,000 non-farm jobs in June, compared with a forecast of 160,000. Indeed, this solid job growth complicates the Fed’s decision to cut rates at the end of the month. In any case, a 50bp rate cut now seems highly unlikely. Besides, the number of new jobs created in the U.S. pushed the Treasury yields a bit higher (U.S. 10-year Treasury yield at 2.04%, 3-month T-bill at 2.23%) marking the first weekly rise since the beginning of May. Similarly gold prices went down 0.96% (around $1,400/oz) as safe-haven demand faded.

Even if Wall Street slid after the Bureau of Labor Statistics release, major equity indices were still on pace for solid weekly gains: the S&P500 index eventually rose by 1.65%, hitting a new record high on Wednesday, while the Nasdaq composite index gained 1.94%. European markets followed the bullish trend (MSCI EMU up 1.56% WTD) though the new orders to factories in Germany fell 2.2% in May (hence a year-on-year decline of 8.6%)! The same held true in Asia (Shangai composite up 1.08%) even though the Caixin-Markit manufacturing purchasing managers’ index slipped to a five-month low of 49.4 in June (i.e. below the 50 mark indicating contraction).

Most S&P sectors fared well, including the most defensive areas of the market such as real estate (+2.44% WTD), consumer staples (+2.18%) and utilities (+1.61%) which had suffered the largest losses a week ago. At the back of the pack, energy was pushed down by the drop of 1.64% in crude oil prices (WTI at $57.51 a barrel) despite an agreement among oil producers to extend supply cuts. Macroeconomic data showing that the deterioration in global growth is accelerating starts to weigh on oil prices.

Lastly, high yield bonds (Bloomberg Barclays US Corporate High Yield Total Return: +0.26% WTD) and emerging debt (Barclays Emerging Markets Local NTR USD: +0.47% WTD) were not really impacted by the rise in Treasury yields.

 

Find the full report here : https://www.trackinsight.com/weekly-flow-report/2019-07-05/global

Graph 1
Graph 2

Graph 3

Stocks mentioned in the article
ChangeLast1st jan.
BARCLAYS PLC -0.45% 155.62 Delayed Quote.3.39%
DJ INDUSTRIAL -0.25% 27154.2 Delayed Quote.16.40%
GOLD -1.22% 1425.38 Delayed Quote.12.54%
LONDON BRENT OIL 0.45% 62.81 Delayed Quote.22.20%
NASDAQ 100 -0.88% 7834.896756 Delayed Quote.25.23%
NASDAQ COMP. -0.74% 8146.488965 Delayed Quote.24.46%
NTR HOLDING A/S -1.03% 38.4 Delayed Quote.19.25%
S&P 500 -0.62% 2976.61 Delayed Quote.19.48%
WTI 0.11% 55.72 Delayed Quote.30.93%

© www.trackinsight.com 2019
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
10:51pPRICESMART 72 HOUR DEADLINE ALERT : Approximately 72 Hours Remain; Former Louisiana Attorney General and Kahn Swick & Foti, LLC Remind Investors With Losses in Excess of $100,000 of Deadline in Class Action Lawsuit Against PriceSmart, Inc. - PSMT
BU
10:51pMETRO BANK SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL : Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess Of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Metro Bank PLC - MBNKF
BU
10:51pJOHNSON & JOHNSON INVESTIGATION UPDATE BY FORMER LOUISIANA ATTORNEY GENERAL : Kahn Swick & Foti, LLC Continues to Investigate the Officers and Directors of Johnson & Johnson - JNJ
BU
10:51pHOMESTREET INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL : Kahn Swick & Foti, LLC Investigates the Officers and Directors of HomeStreet, Inc. - HMST
BU
10:51pFRED'S INC. SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL : Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Fred's Inc. - FRED
BU
10:51pCLAIMSFILER REMINDS BUD, EROS, TEVA INVESTORS of Lead Plaintiff Deadline in Class Action Lawsuits
GL
10:51pQUEST DIAGNOSTICS INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL : Kahn Swick & Foti, LLC Investigates the Officers and Directors of Quest Diagnostics Incorporated - DGX
BU
10:51pCLAIMSFILER REMINDS CTST, EQT, FDX INVESTORS of Lead Plaintiff Deadline in Class Action Lawsuits
GL
10:51pRECKITT BENCKISER SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL : KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Reckitt Benckiser Group plc - RBGLY
GL
10:50pCLAIMSFILER REMINDS ASNA, PYX, TUSK INVESTORS of Lead Plaintiff Deadline in Class Action Lawsuits
GL
Latest news
Advertisement