Don’s Notebook June 7, 2018

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The US Department of Labor Jobless Claims report offered a very useful signal of labor market strength in May which foreshadowed last week’s employment report and 3.8 percent unemployment rate.

  • Initial claims totaled 222,000 in the week of June 2nd with the 4-week average up only slightly to 225,500.
  • Continuing claims, where data lag by a week, rose 21,000 to 1.741 million with this 4-week average down 13,250 to 1.729 million.

Overnight Markets:

  • The MSCI Asia Pacific Index rose 0.6 percent
  • Japan’s Topix index closed 0.6 percent higher after hawkish European Central Bank comments helped drive the yen lower.
  • In Europe, the Stoxx 600 Index is currently .09% lower at with cyclical stocks the best performers. Germany’s DAX 30 France’s CAC 40 index were higher this morning.
  • The U.K.’s FTSE 100 was down 0.1%, turning lower after a 0.5% rise at the open. A technical glitch delayed the start of trade at the London Stock Exchange by an hour.
  • The 10-year Treasury yield was at 2.986 percent
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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.