Contents
- Indices [1]
- Commodities [2]
- Economy [3]
- Upcoming Economic Reports: [4]
- Earnings Calendar: [5]
Indices
DJIA: 24,635.20 (-0.48%)
NASDAQ: 7,554.00 (+1.62%)
S&P 500: 2,735.00 (+0.50%)
Commodities
Gold: 1,297.70 (-0.46%)
Copper: 306.50 (-0.41%)
Crude Oil: 65.55 (-3.43%)
Economy
The second estimate of GDP for 2018 Q1 was revised downward by -0.1% to 2.2% from the advance estimate due to downward revisions to private inventory investment (-0.3%), residential fixed investment (-0.08%) and exports (-0.6%), which were partly offset by upward revisions to nonresidential fixed investment (+0.37%). The first estimate for Gross Domestic Income (GDI) growth was +2.8% compared to an upwardly revised +1.0% (+0.1%) for Q4, and the price index for gross domestic purchases was +2.7% Y/Y. Corporate profits from current production, adjusted for inventory and capital consumption, were down -$12.4 billion (vs. -$1.1 billion for Q4).
A +0.3% increase in employee compensation pushed personal income up +0.3% in April, while March’s increase was revised downward by -0.1% to +0.2%. The personal savings rate dropped to +2.8% (-0.2%), helping to finance a +0.6% increase in personal consumption expenditures (PCE), which included a +0.9 increase in expenditures for nondurable goods and a +0.5% increase in service spending. The PCE price index increased +0.2% (+2.0% Y/Y), and core PCE inflation, excluding food and energy, was up +0.2% (+1.8% Y/Y). March’s yearly core PCE inflation was revised downward -0.1% to +1.8%, leaving yearly core PCE inflation unchanged in April, and below the Federal Reserve’s target 2.0% rate.
Employment increased by 223,000 in May, pushing the unemployment rate [6] down to 3.8%, while the workforce participation rate ticked down from 62.8% to 62.7%. Employment increased in retail (+31,000 M/M), health care (+29,000), construction (+25.000), professional services (+23,000), transportation and warehousing (+19,000), and manufacturing (+18,000), with average hourly earnings up +0.3% (2.7% Y/Y), and the workweek remaining steady at 34.5 hours. The more comprehensive U-6 unemployment rate, which also includes part time workers seeking full time employment, dropped -0.2% to 7.6%.
Upcoming Economic Reports:
Wednesday June 6 – International Trade
Wednesday June 6 – Productivity and Costs
Earnings Calendar:
| Monday | Tuesday | Wednesday | Thursday | Friday |
|---|---|---|---|---|
| Palo Alto Networks (PANW) [7] |
Altaba (AABA) [8] |
Eisai Co (ESALY) [9] |
Broadcom (AVGO) [10] |
KMG Chemicals (KMG) [11] |
| Dell-VMWare Tracking (DVMT) [12] |
Nidec (NJDCY) [13] |
Sysmex (SSMXY) [14] |
National Grid (NGG) [15] |
Uranium Energy (UEC) [16] |