2017 Economic Calendar
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Market Reflections  

September 7, 2017
Initial jobless claims spiked 62,000 in the latest week to 298,000 in the first impact on the labor market from Hurricane Harvey. Given the approach of Hurricane Irma, employment data over the next couple of months look to be unusually volatile.

Oil is holding at $49 as Irma takes aim at Florida and perhaps the Gulf as well. The euro jumped 0.9 percent and is back over $1.2000 at $1.2021 despite no action from the European Central Bank which is keeping stimulus in place. The dollar in contrast continues to fall, down 0.7 percent to a 2-1/2 year low of 91.55. The dollar often declines as U.S. Treasury rates decline, which they did again in this session with the 10-year down 6 basis points to 2.04 percent and a new low for the year. The Dow ended fractionally lower at 21,784 while gold continues to rise, up 1.1 percent at $1,353.

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