Top Day Market News
5.02
ADP, the private job forecast came in with a disappointing add of only 119K for April. That’s 50K less than expected. On this, the usual fallout; bonds higher, stocks lower, crude lower on less off-take. The European unemployment rate is at its highest level in almost 15 years. Perhaps offsetting news will come with Factory Orders at 10.
We also get oil inventories at 10:30.
Yesterday’s better than expected ISM number sent everything higher. All of this is just creating a fake out, breakout market.
Week of April 30 - May 04
Date
|
ET
|
Release
|
For
|
Actual
|
Briefing.com Briefing.com
|
Prior
|
Revised
|
|
Forecast
|
Consensus
|
From
|
||||||
Apr |
08:30 |
Personal Income |
Mar |
0.8% |
0.2% |
0.2% |
||
30 |
||||||||
Apr |
08:30 |
Personal Spending |
Mar |
0.8% |
0.5% |
0.8% |
||
30 |
||||||||
Apr |
08:30 |
PCE Prices - Core |
Mar |
0.2% |
0.2% |
0.1% |
||
30 |
||||||||
Apr |
09:45 |
Chicago PMI |
Apr |
60.0 |
60.0 |
62.2 |
||
30 |
||||||||
May |
10:00 |
ISM Index |
Apr |
52.5 |
53.0 |
53.4 |
||
01 |
||||||||
May |
10:00 |
Construction |
Mar |
0.8% |
0.5% |
-1.1% |
||
01 |
Spending |
|||||||
May |
14:00 |
Auto Sales |
Apr |
NA |
5.4M |
5.1M |
||
01 |
||||||||
May |
14:00 |
Truck Sales |
Apr |
NA |
5.7M |
5.7M |
||
01 |
||||||||
May
|
07:00
|
MBA Mortgage Index
|
04/28
|
NA
|
NA
|
-3.8%
|
||
| Date | ET | Release | For | Actual | Briefing.com Briefing.com | Prior | Revised | |
| Forecast | Consensus | From | ||||||
| 02 | ||||||||
| May | 08:15 | ADP Employment | Apr | 170K | 170K | 209K | ||
| 02 | Change | |||||||
| May | 10:00 | Factory Orders | Mar | -2.5% | -1.8% | 1.3% | ||
| 02 | ||||||||
| May | 10:30 | Crude Inventories | 04/28 | NA | NA | 3.978M | ||
| 02 | ||||||||
| May | 07:30 | Challenger Job Cuts | Apr | NA | NA | -8.8% | ||
| 03 | ||||||||
| May | 08:30 | Initial Claims | 04/28 | 375K | 375K | 388K | ||
| 03 | ||||||||
| May | 08:30 | Continuing Claims | 04/21 | 3300K | 3300K | 3315K | ||
| 03 | ||||||||
| May | 08:30 | Productivity-Prel | Q1 | -0.5% | -0.6% | 0.9% | ||
| 03 | ||||||||
| May | 08:30 | Unit Labor Costs | Q1 | 3.0% | 3.0% | 2.8% | ||
| 03 | ||||||||
| May | 10:00 | ISM Services | Apr | 56.5 | 55.5 | 56.0 | ||
| 03 | ||||||||
| May | 08:30 | Nonfarm Payrolls | Apr | 140K | 162K | 120K | ||
| 04 | ||||||||
| May | 08:30 | Nonfarm Private | Apr | 145K | 167K | 121K | ||
| 04 | Payrolls | |||||||
| May | 08:30 | Unemployment Rate | Apr | 8.2% | 8.2% | 8.2% | ||
| 04 | ||||||||
| May | 08:30 | Hourly Earnings | Apr | 0.1% | 0.2% | 0.2% | ||
| 04 | ||||||||
| May | 08:30 | Average Workweek | Apr | 34.5 | 34.5 | 34.5 | ||
| 04 | ||||||||
MARKET PLACE
Numbers are good up until the close of business today. These are strictly technical in nature, not fundamentally based or biased.
Legend
U is Up
D is Down
PRD is Potential Reversal Day
S2 is Weekly strong support
S1 is Weekly good support
DS is Daily Support
DR is Daily Resistance
R1 is Weekly Good Resistance
R2 is Weekly Strong Resistance
Levels are for the most active futures contract
Daily Support and Resistance
Trend
|
WS2 |
WS1 |
DS |
DR |
WR1 |
WR2 |
|
June
|
U
|
1336
|
1367 |
1390.50
|
1411 |
1416 |
1434 |
ES
|
|||||||
June
|
PRD(D)
|
2581
|
2659 |
2701.50
|
27444 |
2780 |
2823 |
Nasdaq
|
|||||||
June
|
U
|
121.5
|
123.02 |
123.92 |
125.36 |
125.30 |
126.15 |
9
|
|||||||
Yen
|
|||||||
June
|
PRD(D)
|
130.4
|
131.55 |
131.62 |
132.77 |
133.21 |
133.80 |
8
|
|||||||
EC
|
|||||||
June
|
U
|
130.1
|
131.12 |
131.19
|
132.00 |
132.23 |
133.09 |
10
|
9
|
||||||
Year
|
|||||||
June
|
U
|
139.3 |
141.11 |
141.09 |
142.27 |
143.26 |
144.30 |
1 |
|||||||
30
|
|||||||
Year
|
|||||||
July
|
U
|
14.04
|
14.50 |
14.87 |
15.08 |
15.25 |
15.55 |
Soybea
|
|||||||
ns
|
|||||||
July
|
U
|
5.93 |
6.23 |
6.204 |
6.33 |
6.69 |
6.85 |
Corn
|
|||||||
June
|
U
|
1606.
|
1634.6 |
1649.2 |
1670.6 |
1679.4 |
1696.3 |
7
|
|||||||
Gold
|
|||||||
July
|
D
|
29.25 |
30.27 |
30.45 |
31.26 |
32.02 |
32.75 |
Silver
|
|||||||
July
|
U
|
353 |
368 |
379
|
386 |
391 |
398 |
Copper
|
|||||||
June
|
U
|
100.6 |
102.75 |
104.89
|
106.93 |
105.93 |
107.05 |
Crude
|
9 |
||||||
