View From The Hill: May-6-2016

Posted on Posted in Views From The Hill
Click to enlarge
Click to enlarge

 


Commentary

As expected, the much awaited Employment Situation report failed to meet expectations. Although the market swooned at the open, it showed resiliency as the SP-500 (SPY) ventured below its 50-day moving average before rallying early in the session to close above it and in the upper end of its trading range. Still, even this was not enough to keep it from finishing in negative territory for the week.

 

Click to enlarge
Click to enlarge

 

Prior

Prior Revised

Consensus

Consensus Range

Actual

Nonfarm Payrolls – M/M change

215,000

208,000

200,000

175,000  to 245,000

160,000 

Unemployment Rate – Level

5.0 %

4.9 %

4.8 % to 5.0 %

5.0 %

Private Payrolls – M/M change

195,000

184,000

195,000

165,000  to 235,000

171,000 

Participation Rate – level

63.0 %

62.8 %

Average Hourly Earnings – M/M change

0.3 %

0.2 %

0.3 %

0.2 % to 0.4 %

0.3 %

Av Workweek – All Employees

34.4 hrs

34.5 hrs

34.4 hrs to 34.5 hrs

34.5 hrs

 

 

Today’s economic data will most likely hamstrings the Fed from raising rates this summer. Coming upon a seasonally slow period in the markets, it will want to take more time to assess if future economic data confirms if today’s employment report was only an aberration or the beginning of new trend.

No further comments….

 

(Please see ETF performance analysis for asset class summary)

 


ETF Capital Markets Performance Summary

 

Click to enlarge
Click to enlarge

Leave a Reply

Your email address will not be published. Required fields are marked *