Selling pressure has waned significantly from earlier in the session, but stocks stay in the red in trading on Friday. Unsatisfactory economic data continues to think about on the markets subsequent the bounce back seen in the earlier session.


Australia will see today the May forecast for consumer prices from TD Securities, importance a light day for Asia-Pacific economic activity.

Inflation was anticipated to be elevated by 0.1 percent on month and 1.5 percent on year, In April.

Australia will also see May statistics for job advertisements; job ads slipped 0.8 percent on month in April.

May numbers will release by The Philippines for consumer prices and April figures for producer prices. Core CPI was up 1.5 percent on year and in general inflation gained an annual 1.1 percent, In April. Producer prices were down 0.2 percent on month and 5.5 percent on year in March.

The markets in South Korea and New Zealand are closed today for the Queen’s Birthday and Memorial Day, correspondingly. Both will re-open on Tomorrow.


After the pressure early in the session, equities once again staged a revival attempt over the course of the trading day on Friday. Dissimilar in the two previous sessions, however, the major averages ended the day in the red.

The main averages closed in negative terrain but well off their lows for the session. The Dow edged down by 31.49 points or 0.2 percent to 17,807.07, the Nasdaq slid 28.86 points or 0.6 percent to 4,942.53 and the S&P 500 dipped 6.14 points or 0.3 percent to 2,099.14.

The major averages turned in a mixed performance for the holiday-shortened week. Whereas the Dow fell down by 0.4 percent, the Nasdaq crept up by 0.2 percent and the S&P 500 closed nearly flat.

The weakness on Wall Street came as the Labor Department’s highly expected monthly jobs report showed much weaker than predictable job growth.


The dollar is down against all of its major rivals Friday after the May employment report showed weaker than predictable job growth. The unsatisfactory report has left investors confident that the Federal Reserve will be not capable to pull the trigger on an interest rate hike at its upcoming meeting.

The Labor Department on Friday, released a report viewing much weaker than predictable U.S. job growth in the month of May.

The Labor Department said that non-farm payroll employment edged up by just 38,000 jobs in May compared to economist predicts for an increase of about 158,000 jobs.

The much weaker job growth reflected the smallest increase in employment since September of 2010.

The job gains in March and April were also downwardly revised to 186,000 and 123,000, correspondingly, showing a net downward revision of 59,000 jobs.

The dollar has dropped to over a 2-week low of $1.1341 against the Euro Friday, from around $1.1140.

The buck fell down to a 3-day low of $1.4581 against the pound sterling Friday, but has since rebounded to around $1.4516.

The greenback has plunged to nearly a 1-month low of Y106.751 against the Japanese Yen, from around Y109.


On Friday Crude oil futures fell, extending weekly losses after a dismal U.S. report raised demand concerns.

OPEC’s inability to agree on a production freeze also drove prices lower.

WTI oil futures advanced at $48.62/bbl on Nymex, down 1.1% or 55 cents.

Gold rallied Friday after a downbeat jobs report generated speculation the Federal Reserve will refrain from raising interest rates this summer.

Gold gained $30.30, or 2.5%, to settle at $1,242.90 an ounce, August. This was the biggest gain in a one day almost four months.


Write a comment:


Your email address will not be published.