The latest nonfarm payroll report shows the US economy created 88,000 jobs in March following a revised 268,000 gain in February though the jobless rate slumped to a four-year low of 7.6 percent due to a decline in the size of the labor force and participation rate. The labor force participation rate and the number of people leaving the workforce …
Bank Of Japan Stimulates US Markets; Europe Slips On Draghi Comments
[Chart courtesy of MarketWatch.com] US equities closed higher, rebounding from the biggest sell off in more than a month for the S&P 500 index, as cheer over Bank of Japan’s monetary stimulus offset a rise in US jobless claims. Japan’s central bank provided the early boost to equities today with an announcement it would buy 7 trillion yen (about $73 …
US Indexes Retreat On Disappointing Data; Europe Tracks Lower
[Chart courtesy of MarketWatch.com] US equities headed sharply downhill, with benchmark indexes sliding to their lowest levels in more than five weeks as oil prices plunged and labor market data disappointed, spurring concern on economic growth ahead of Friday’s all-important nonfarm payrolls report. Before markets opened, New Jersey-based private payroll-processor ADP Research Institute reported companies hired 158,000 workers in March, …
Indexes Slip On Manufacturing Data; Treasuries Advance To Almost 4-Week High
[Chart courtesy of MarketWatch.com] US equity markets started the second quarter on a cautious note, with two benchmark indexes retreating from record highs, after a closely watched manufacturing index declined unexpectedly in March. The Tempe, Arizona-based Institute for Supply Management’s factory index fell to 51.3 in March from 54.2 in February. Any reading above 50 signals expansion. At the same …
One Man’s Opinion: Have Asset Bubbles Been Formed Already?
Asset markets are elevated because monetary policies are very active, says Ben Emons, Senior Vice President at PIMCO. Take last week. The Federal Reserve came out with a statement, which was very similar to previous statements and very much indicative that quantitative easing by far is not over. Similarly, if we look forward to next week, the comments coming from …
A Mixed Day On Data And Europe; Italian Political Turmoil Weighs
[Chart courtesy of MarketWatch.com] The major indexes recovered from an early drop to finish mixed amid concerns Europe’s debt crisis is worsening and as pending home sales in the US tripped in February. Equities headed to their session lows shortly after the open when a report from the National Association of Realtors showed pending home sales declined 0.4 percent in …