2018 Economic Calendar
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Market Reflections  

July 6, 2018
June's employment report has the best of both worlds: rising participation in the labor market and lack of acceleration in wage pressures. The nation's unemployment rate rose 2 tenths to 4.0 percent in what is good news as a 1/2 million more Americans, now at 6.5 million, are now actively looking for work. And there's plenty of work to found as nonfarm payrolls rose a much stronger-than-expected 213,000. All this and average hourly earnings held steady at a 2.7 percent year-on-year rate, one that won't be pulling forward Federal Reserve rate hikes.

Stocks moved modestly higher on the results with the Dow, at 24,456, posting a weekly gain of 0.8 percent. The spread between the 2-year Treasury yield, at 2.53 percent, and the 10-year at 2.81 percent continues to tighten, now under 30 basis points. Oil ended the week near $74 and gold near $1,255.

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