Oil Rebounds as NASDAQ and S&P 500 Hit All-Time Highs

Hello MarketClub members everywhere. Oil has hit its highest price in more than three weeks after it's 5th straight day of gains. Of course, this move is due to Saudi Arabia and Russia indicating that the OPEC-led supply cuts need to last into 2018.

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The Nasdaq and the S&P 500 touched record highs earlier today as a rise in oil prices boosted energy stocks, and investors shrugged off the impact of a global cyber attack.

Key levels to watch this week: Continue reading "Oil Rebounds as NASDAQ and S&P 500 Hit All-Time Highs"

Dollar Slips After Retail Sales Miss The Mark

Hello MarketClub members everywhere. After five days of gains, the dollar is dropping from subdued retail sales data and inflation in the world's largest economy. Gold has risen for a second straight day, while crude oil has slipped back below $48 a barrel.

MarketClub's Mid-day Market Report

Several retailers, including Macy's, Nordstrom, Kohl's and J.C. Penny, have seen their stocks tank this week after reporting weaker-than-expected quarterly results, putting the retail sector under pressure. You have to wonder how brick and mortar retailers can survive in an ever-expanding online world. What do you think?

Key levels to watch this week: Continue reading "Dollar Slips After Retail Sales Miss The Mark"

Stocks Lingering Near All-Time Highs

Hello MarketClub members everywhere. The S&P 500 and the Nasdaq touched record highs for the second straight day following a batch of upbeat corporate earnings, while Emmanuel Macron's victory in the French presidential election improved risk appetite.

The VIX, Wall Street's "fear gauge," hit its lowest level in more than a decade earlier in the day. A lower VIX typically indicates a bullish outlook for stocks.

MarketClub's Mid-day Market Report

Oil prices headed lower today over concerns about slowing demand and the rise in U.S. crude output which has shaken traders faith in the ability of OPEC to rebalance the market.

Key levels to watch this week: Continue reading "Stocks Lingering Near All-Time Highs"

U.S. Jobs Rebound As Unemployment Falls

Hello MarketClub members everywhere. U.S. job growth rebounded sharply in April and the unemployment rate dropped to 4.4%, that’s near a 10-year low, pointing to a tightening labor market that could seal the case for an interest rate increase next month despite moderate wage growth.

Non-farm payrolls surged by 211,000 jobs last month, well above the monthly average of 185,000 this year and a jump from the gain of 79,000 in March.

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Crude Oil has stabilized after dropping to nine-month low 43.76 in the early morning hours. This decline in prices is primarily driven by an ever-expanding U.S. output and on concerns that global inventories haven’t fallen as much as investors had hoped after OPEC cut production.

Key levels to watch next week: Continue reading "U.S. Jobs Rebound As Unemployment Falls"

Is The Fed Set To Leave Rates Unchanged?

Hello MarketClub members everywhere. It's expected that the Federal Reserve will hold interest rates steady at its meeting this week as it takes pause to analyze more economic data, but may hint it is on track for a June increase.

The Fed will release its policy decision at 2 p.m. EDT on Wednesday after its two-day meeting. Fed Chair Janet Yellen is not due to hold a press conference at this time.

Most economists feel that the Fed is more confident in its forecast of two more rate increases this year.

MarketClub's Mid-day Market Report

Meanwhile, traders seem reluctant to commit to any direction ahead of the Fed's policy review and Friday's jobs report in light of weaker-than-expected economic growth in the first quarter. The French election on Sunday is adding to concern, while the deal to avert a U.S. government shutdown fueled uncertainty about the timing for any Trump policy priorities.

Key levels to watch this week: Continue reading "Is The Fed Set To Leave Rates Unchanged?"