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European stock surge for the second day

European stock surge for the second day

DAX dailyClosing changes:Stoxx 600 +1.5%UK FTSE 100 +1.6%German DAX +1.3%French CAC +2.0%Italy MIB +2.0%Spain IBEX +1.7%On the week:Stoxx 600 +0.2%UK FTSE 100 -0.2%German DAX +0.5%French CAC -0.6%Italy MIB +1.3%Spain IBEX +1.4%The turn of the calendar prompted a swift...

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Gold hits an air-pocket in $20 drop

Gold hits an air-pocket in $20 drop

Gold took a tumble in the past 15 minutes as it extends its post-payrolls slump. It's not entirely clear what's behind the selling with Fed funds futures pricing for the June meeting stuck at 29% pre-and-post NFP. The dollar is also broadly flat and commodities are...

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US stocks liking the jobs report at the open

US stocks liking the jobs report at the open

The major US stock indices are moving higher at the open after the stronger jobs report from the nonfarm payroll perspective. The unemployment rate rose however, which helps to put a Goldilocks spin on the numbers. A snapshot of the market shows:Dow industrial average...

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US May non-farm payrolls +339K vs +190K expected

US May non-farm payrolls +339K vs +190K expected

Prior was +253K (revised to +294K)Two-month net revision +93K vs -149K priorUnemployment rate 3.7% vs 3.5% expectedPrior unemployment rate 3.4%Participation rate 62.6% vs 62.6% priorU6 underemployment rate 6.7% vs 6.6% priorAverage hourly earnings +0.3% m/m vs +0.3%...

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Locked and loaded for May non-farm payrolls

Locked and loaded for May non-farm payrolls

I think the Fed comments about skipping a hike at the June meeting neutered today's non-farm payrolls report, to some extent. But it's still non-farm payrolls and it's undoubtedly a market mover.The consensus today is 190K and if it's higher than that, it will be the...

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