2017 Economic Calendar
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Market Reflections  

July 7, 2017
June proved a solid month for nonfarm job growth, at 222,000 with May and April revised higher, but wage gains proved once again subdued, up only 0.2 percent on the month and 2.5 percent on the year. Lack of wage strength not only points to weakness for consumer spending but also to lack of inflation push. With wages static, inflation is becoming an increasing anomaly for the economy.

Stocks rallied on the jobs report with the Dow gaining 0.4 percent to 21,414 for a modest weekly gain of 0.3 percent. Bonds showed less reaction though the 10-year Treasury ended another soft week with its yield rising 8 basis points to 2.39 percent. Oil was the week's big mover, losing more than 4 percent to just over $44 and raising more questions about inflation.

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