Category: Market Summary
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U.S. Stocks Extend Rally On Jobs Data, Senate Passing Debt Ceiling Bill
Stocks moved sharply higher over the course of the trading day on Friday, adding to the strong gains posted in Thursday’s session. With the continued upward move, the Nasdaq reached its best closing level in well over a year, while the S&P 500 set a new nine-month closing high. The major averages pulled back off…
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Payrolls Hits 339,000 in May, Well Above Consensus
The US economy unexpectedly added 339,000 jobs in May 2023, far above market forecasts of 190,000 and after an upward revision from 294,000 in April, according to the Labor Department in its monthly payroll report released on Friday. US job growth unexpectedly picked up in May as the job market remained surprisingly resilient despite rising…
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Friday’s Wall Street Highlights: SoftBank, Boeing, Broadcom, MongoDB, Meta Platforms and more
US Index Futures rose in premarket trading on Friday after the US Senate passed a bill raising the debt ceiling, eliminating the risk of a debt default. The market is now shifting its focus to the Payroll report, which is important for calibrating expectations about the trajectory of US interest rates. By 6:55 AM, Dow Jones…
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North American Morning Briefing: Stock Futures Rise as Jobs Report Swings Into Focus
Market Wraps Watch For: Employment Report for May Today’s Top Headlines/Must Reads: – Jobs Report Expected to Show Unemployment Still Historically Low – Senate Approves Deal Raising Debt Ceiling, Averting U.S. Default – As China Risks Grow, Manufacturers Seek Plan B-and C and D – Nvidia Is Still a ‘Buy’ on Wall Street Opening Call:…
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US Futures, European Stocks Rise Ahead of Jobs Data
In the U.S. futures for the S&P 500 were up 0.3% and futures for the Dow Jones Industrial Average increased 0.4% Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 climbed 0.4% in morning trading. Dechra Pharmaceuticals added 8.2% and Samhallsbyggnadsbolaget rose 5.5%. On the other…
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Progress On Debt Ceiling Bill Contributes To Strength On Wall Street
Stocks showed a lack of direction in early trading on Thursday but moved notably higher over the course of the session. With the upward move on the day, the Nasdaq and the S&P 500 reached their best closing levels in over nine months. The major averages pulled back off their highs of the session going…
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U.S. Stocks May Lack Direction After House Passes Debt Ceiling Bill
US Market The major U.S. index futures are currently pointing to a roughly flat open on Thursday, with stocks likely to show a lack of direction after ending the previous session mostly lower. The lack of momentum on Wall Street comes even though the House voted Wednesday night to approve the bill raising the U.S.…
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North American Morning Briefing: Attention Turns to Jobs Data
Market Wraps Watch For: ADP National Employment Report for May, Weekly Jobless Claims, Revise Productivity and Costs, ISM Report on Business Manufacturing PMI, EIA Weekly Petroleum Status Report Today’s Headlines/Must Reads – House Approves Debt-Ceiling Deal Struck by Biden and McCarthy – Profit Numbers Get Spruced Up as Business Slows – ESG Blowback: Exxon, Chevron…
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U.S. Stocks Close Weak As Investors Await Vote On Debt Ceiling
U.S. stocks ended weak on Wednesday after languishing in negative territory right through the day’s session. The major averages all ended with moderate losses despite coming off the day’s lows. The Dow, which dropped to 32,739.73 around mid morning, ended the session at 32,908.27 with a loss of 134.51 points or 0.41 percent. The S&P…
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Wall Street Highlights for Wednesday: Tesla, Goldman Sachs, C3.ai, Ambarella and more
The risk aversion environment prevails and puts pressure on US Index Futures, after China’s economy contracted for the second straight month in May, which adds evidence that the Asian country’s post-Covid recovery is losing momentum. The market also follows the vote in the plenary of the House of the bipartisan agreement to increase the debt…