May 3, 2019

Market News

Stocks ticked higher after data showed the U.S Labor market added more jobs than expected. The jobs report for April increased by 263,000 and unemployment rate ticked down to 3.6%. Additionally, strong corporate earnings and improving global economic data have eased concerns about an economic slowdown.

Bond prices are down slightly, and 10-year treasury is yielding 2.57%. Expectations for the U.S. economy continue to adjust after the Fed announced their patient stance. Chairman Powell also described the lower inflation as transitory, which damped investors’ hopes of a future rate cut.

U.S. jobs top forecasts with 263,000 gain in April. The U.S. economy has continued to accelerate as unemployment unexpectedly fell to a 49 year low in addition to surprisingly strong hiring and cooler than expected wage gains. This all suggests the hot labor market can extend its run.

Josh Pappert – VP, Capital Markets
Nations Direct Mortgage