Tradeline Financials - US Market Update - Week 23, 2014
US markets have continued to hold their gains this past few weeks and as the S&P 500 and Dow Jones continue their record breaking streak the momentum does not look like faltering.
Key decisions from the ECB helped settle markets even though the majority of the information confirmed yesterday was already out in the news environment. Confirmation of the stimulus package did little for the US markets initially, seeing a cautious response that saw a minor dip before a rally towards the end of the day.
Along with the ECB decision there was also good news locally in the jobs sector. With unemployment looking to sneak back up to 6.4% from April's 6.3% there could be cause for concern however today's data should confirm that although fewer jobs were added in May, it was the fourth consecutive month that jobs added were the other side of 200k. April's 288k additional jobs far exceeds the 218k forecast for today but as the data suggests, this could be the turning point for an economy in recovery that is actually an economy in expansion. Based off of the data so far this year the United States has managed to put the roughly 8.7m people who lost their jobs back at the height of the recession back into the labour market.
Later today we will hear comments on the employment situation now that the full range of data has been released. This should solidify what we have heard and seen lately about the US economy. We can expect the markets to continue their Bull run to close out the week.
US Indices as of 5th June 2014:
Dow Jones - 16,836.11
S&P 500 - 1,940.46
NASDAQ - 4,296.23
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