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S&P500  +0.49%(2,734.62); NASDAQ  +1.62% (7,554.33); DJIA  -0.48% (24,635.21)


This week’s reports:

  • Q1 2018 GDP Growth Annualized (second est.) was 2.2% versus Q4 2017’s 2.9%.
  • May’s Unemployment Rate fell to 3.8%, a 18-year low, from April’s 3.9%. Non-Farm Payrolls surged by 223K from April’s +159K. Participation Rate fell to 62.7% from April’s 62.8%.
  • May’s Average Weekly Hours remained unchanged from April’s 34.5. Average Hourly Earnings rose 2.7% y/y versus April’s 2.6% y/y.
  • April’s Personal Income rose 0.3% from March’s +0.2%. Personal spending rose 0.6% from March’s +0.5%.
  • May’s
  • April’s Pending Home Sales fell 1.3% from March’s +0.6%.
  • May’s Chicago PMI jumped to 62.7 from April’s 57.6.
  • May’s Markit Manufacturing PMI fell to 56.4 from April’s 56.6.
  • May’s ISM Manufacturing Index rose to 58.7 from April’s 57.3.
  • March’s S&P/Case-Shiller Home Price Indices rose 6.8% y/y, the same as in February.
  • Initial Jobless Claims for the week ending May 25th fell by 13K to 221K. Continuing Jobless Claims for the week ending May 18th fell by 16K to 1,726K. 
  • US stocks surged on Friday to recoup previous losses following an upbeat unemployment report that showed a modest gain in wages. The robust jobs report helped steady a stock market that had been struggling this week with concerns about escalating trade tensions and Eurozone stability, which eased after Italy struck a deal on a coalition government.
  • The US imposed tariffs on imports od steel and aluminum from Canada, Mexico and the European Union, ending temporary exemptions, who swiftly pledged to retaliate with duties of their own.



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