Don’s Notebook June 1, 2018

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The G-7 meeting of finance minister and central bankers continues in Canada today.

Solid job growth without inflation was expected to focus on average hourly earnings in today’s employment report for May.

  • Nonfarm payrolls rose 223,000 in May while the unemployment rate moved down a tick to 3.8 percent.
  • The monthly gain for average hourly earnings was up 0.3 percent for a year-on-year rate that is up a tenth to 2.7 percent.

The ISM Manufacturing Index from the Institute for Supply Management, which was announced this morning, is calculated from a monthly survey of purchasing managers at roughly 300 manufacturing firms nationwide.

  • May’s 58.7 headline is very strong but still understates the strength of the ISM manufacturing report.
  • New orders showed an increase to 63.7 for a 2.5 point jump in the month, backlog orders, increased to 63.5 which is a 14-year high and delivery delays are increasing.

At 1:00 p.m., the latest Baker Hughes rig count is released.

Abercrombie & Fitch hosts an earnings call today while Walmart hosts a Q &A session with investors.

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Dr. Don Pratl is Director of Trader Development and Education for TradeStation. He joined TradeStation in 2016 after holding similar roles with other online brokerages. Don’s long career in the financial services industry reflects expertise in administering trading and investment strategy programs for retail investors as well as financial services professionals. Since the 1980s, he has held various positions in areas including CBOE trading floor order execution, marketing, sales, personnel management, training and customer service. Don holds series 3, 4, 7 and 63 FINRA licenses, earned his Ph.D. in Organization and Management, and his M.A. and B.A. in Political Science. He has been an occasional adjunct college instructor since 2004 at a range of institutions, teaching undergraduate, graduate and doctoral students using in-class and online formats.