ADVFN Newsdesk - Weaker Than Expected Jobs Data In Focus On Wall Street

[ADVFN]( [World Daily Markets Bulletin]( [Daily world financial news]( [Friday, 02 June 2017 09:13:39]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Forex]( [Boards]( CANNABIS MARKETPLACE INVESTMENT OPPORTUNITIES AVAILABLE NOW HelloMD, the largest medical cannabis community is soon to be come the largest marijuana product marketplace. In two short years, HelloMD has gone from strength to strength and earned its place as one of the most trusted brands in cannabis. Early stage investment opportunities available now to all investors. [More Information here.]( --------------------------------------------------------------- US Market [To view the charts please add newsdesk@advfn.com to your contact list] NYSE AMEX Dow Jones Nasdaq [NYSE]( [AMEX]( [Dow Jones]( [Nasdaq]( Please click on the images to view our interactive charts The major U.S. index futures are pointing to a higher opening on Friday following the release of the Labor Department’s closely watched monthly jobs report. The upward momentum comes even though the report showed much weaker than expected job growth. Analysts have said the smaller than expected increase in employment is not likely to derail an interest rate hike by the Federal Reserve later this month. Stocks moved mostly higher over the course of the trading session on Thursday, offsetting the weakness seen in the two previous sessions. With the advance on the day, the three major averages reached new record closing highs. The major averages ended the session at their best levels of the day. The Dow rose 135.53 points or 0.7 percent to 21,144.18, the Nasdaq advanced 48.31 points or 0.8 percent to 6,246.83 and the S&P 500 climbed 18.26 points or 0.8 percent to 2,430.06. The strength on Wall Street came following the release of some upbeat economic data, including a report from payroll processor ADP showing a jump in private sector employment in the month of May. ADP said private sector employment jumped by 253,000 jobs in May after climbing by a revised 174,000 jobs in April. Economists had expected an increase of about 185,000 jobs compared to the addition of 177,000 jobs originally reported for the previous month. The Institute for Supply Management also released a report showing activity in the manufacturing sector unexpectedly grew at a slightly faster rate in the month of May. The ISM said its purchasing managers index inched up to 54.9 in May from 54.8 in April, with a reading above 50 indicating growth in the manufacturing sector. Economists had expected the index to edge down to 54.5. Meanwhile, a separate report from the Labor Department showed that first-time claims for U.S. unemployment benefits rose by more than expected in the week ended May 27th. The report said initial jobless claims climbed to 248,000, an increase of 13,000 from the previous week's revised level of 235,000. Economists had expected jobless claims to edge up to 239,000. The Commerce Department also released a report showing that construction spending unexpectedly tumbled by 1.4 percent in April. Late in the session, President Donald Trump announced his widely anticipated decision to withdraw from the landmark Paris climate accord that seeks to reduce carbon emissions and slow the effects of climate change. Networking stocks showed a strong move to the upside on the day, driving the NYSE Arca Networking Index up by 3.3 percent. With the jump, the index reached its best closing level in over a month. Ciena (CIEN) led the networking sector higher, surging up by 15.8 percent after reporting better than expected second quarter results. Significant strength was also visible among biotechnology stocks, as reflected by the 2.3 percent gain posted by the NYSE Arca Biotechnology Index. XBiotech (XBIT) and Minerva Neurosciences (NERV) posted standout gains. Telecom, financial, housing and internet stocks also saw considerable strength, moving higher along with most of the other major sectors. --------------------------------------------------------------- CannaInvestors Hub Magazine - Research for Cannabis Investors [Subscribe for Free to the May 2017 issue]( Featured Companies include HelloMD, AEssenseGrows, MCig, Inc, Grow Condos, Novus Acquisition and Dev, Naturally Splendid Ent Ltd, AusCann Group Holdings. [Click Here]( --------------------------------------------------------------- US Economic Reports [To view the charts please add newsdesk@advfn.com to your contact list] CADUSD Oil Gold Allbanc [CADUSD]( [Oil]( [Gold]( [Allbanc]( Please click on the images to view our interactive charts Employment in the U.S. increased by much less than expected in the month of May, according to a report released by the Labor Department on Friday. The report said non-farm payroll employment rose by 138,000 jobs in May after climbing by a downwardly revised 174,000 jobs in April. Economists had expected an increase of about 185,000 jobs compared to the jump of 211,000 jobs originally reported for the previous month. Despite the weaker than expected job growth, the unemployment rate edged down to 4.3 percent in May from 4.4 percent in April. The unemployment rate had been expected to come in unchanged. With the unexpected decrease, the unemployment rate fell to its lowest level since hitting a matching rate in May of 2001. A separate report from the Commerce Department showed that the U.S. trade deficit widened by more than expected in April. The Commerce Department said the trade deficit widened to $47.6 billion in April from a revised $45.3 billion in March. Economists had expected the trade deficit to widen to $46.1 billion from the $43.7 billion originally reported for the previous month. At 12:45 pm ET, Philadelphia Federal Reserve President Patrick Harker is due to the discuss economic outlook and the Philadelphia Fed's economic growth and mobility project at the Pennsylvania Economic Association 2017 Conference in Reading, Pennsylvania. Dallas Federal Reserve President Robert Kaplan is due to speak at a Q&A session at a City of Addison Economic Development Luncheon in Dallas at 1 pm ET. --------------------------------------------------------------- The Cannabis Industry Annual Report 2017 Gain access to the latest business intelligence and stay on top of the rapidly changing cannabis industry with The Cannabis Industry Annual Report: 2017 Legal Marijuana Outlook. [Click Here]( --------------------------------------------------------------- Europe markets European stocks have extended gains for the second day on Friday as positive private-sector employment and manufacturing data from the U.S. bolstered confidence in the world's largest economy and fueled expectations for a Fed rate hike later this month. While the German DAX Index has jumped by 1.3 percent, the French CAC 40 Index is up by 0.6 percent and the U.K.’s FTSE 100 Index is up by 0.2 percent. Banks are trading broadly higher, with Deutsche Bank, BNP Paribas, Credit Agricole and Royal Bank of Scotland climbing 2-3 percent. Spanish lender Banco Popular has jumped on bargain hunting after Thursday's sell-off on solvency concerns. French drug maker Ipsen is also soaring after announcing a share buyback. German automakers Daimler, BMW and Volkswagen are climbing after unveiling their monthly U.S. car sales figures. French automaker Renault and Peugeot have also moved higher. Shares of Orexo AB have advanced after the Swedish pharmaceutical company announced that its OX-CLI project has advanced into clinical phase I, triggering a milestone payment of $2.5 million or about 23 million Swedish kronor from AstraZeneca plc. On the other hand, B&M European Value Retail has fallen after its two largest shareholders sold a combined 12.5 percent stake in the discount chain. In economic news, U.K. construction activity expanded at the fastest pace in 17 months in May, survey results from IHS Markit and Chartered Institute of Procurement & Supply showed. The headline PMI unexpectedly advanced to 56.0 from 53.1 in April. --------------------------------------------------------------- Utilize the strategy that has achieved a 1,281% cumulative gain Investors who use utilize The Option Advisor trade recommendations have enjoyed a 1,281% cumulative gain; and for a limited time you can join them at no cost! 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Japanese shares led regional gains as strong U.S. private hiring data helped lift the dollar to a one-week high against the yen. The Nikkei 225 Index jumped 317.25 points or 1.60 percent to 20,177.28, its highest closing level since mid-August 2015. The broader Topix Index closed 1.64 percent higher at 1,612.20. Exporters closed broadly higher, with Honda Motor, Sony and Toshiba climbing 3-4 percent. Among financials, Mitsubishi UFJ Financial, Sumitomo Mitsui Financial and Nomura Holdings jumped 3-5 percent. Australian shares gained ground as banks continued to rebound from recent losses and higher iron ore prices helped lift materials stocks. The benchmark S&P/ASX 200 Index climbed 50 points or 0.87 percent to 5,788.10, while the broader All Ordinaries Index ended up 48.60 points or 0.84 percent at 5,821.10. The big four banks rose between 0.7 percent and 1.2 percent. BHP Billiton advanced 1.4 percent on news it has lifted a declaration of force majeure at its Escondida copper mine in Chile. Rivals Rio Tinto and Forstescue Metals Group added around 1.7 percent each. Utilities and energy stocks were among the worst performers. Chinese stocks ended little changed as investors fretted over tighter liquidity and slowing economic growth. The benchmark Shanghai Composite Index reversed early losses to end 3.36 points or 0.11 percent higher at 3,105.98. Hong Kong's Hang Seng Index rose 114.83 points or 0.44 percent to 25,924.05. --------------------------------------------------------------- Leaked tax return reveals secret to pocketing $460,164... Official tax return reveals how one trader nabbed annual gains of 228%, 309% and 339%. His tax return was released online, exposing this simple trading technique used to pocket nearly half a million in profits. [Click here to see the official tax return before it is deleted...]( --------------------------------------------------------------- Currency and Commodities Markets Crude oil futures are tumbling $1.03 to $47.33 a barrel after inching up $0.04 to $48.36 a barrel on Thursday. Meanwhile, after sliding $5.30 to $1,270.10 an ounce in the previous session, gold futures are rising $2.60 to $1,272.70 an ounce. On the currency front, the U.S. dollar is trading at 110.73 yen compared to the 111.37 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.1273 compared to yesterday’s $1.1213. --------------------------------------------------------------- 7 Shocking Forecasts for 2017 [There's no question that America is in trouble: Startling report reveals the terrifying truths that Washington doesn't want you to know & the actions to take NOW to protect your family through the chaos ... 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