ADVFN Newsdesk - Profit Taking May Lead To Weakness On Wall Street

[ADVFN]( [World Daily Markets Bulletin]( [Daily world financial news]( [Monday, 05 June 2017 09:23:40]( [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 modestly lower opening on Monday following the upward move seen last week. Profit taking may contribute to early weakness on Wall Street, as some traders look to cash in on the recent strength in the markets. Stocks moved mostly higher over the course of the trading session on Friday, as traders shrugged off weaker than expected jobs data. With the upward move on the day, the major averages climbed to new record closing highs. The major averages all closed in positive territory, although the tech-heavy Nasdaq outperformed its counterparts. While the Nasdaq advanced 58.97 points or 0.9 percent to 6,305.80, the Dow rose 62.11 points or 0.3 percent to 21,206.29 and the S&P 500 increased 9.01 points or 0.4 percent to 2,439.07. For the holiday-shortened week, the Nasdaq surged up by 1.5 percent, the S&P 500 jumped by 1 percent and the Dow climbed by 0.6 percent. The strength on Wall Street came even though a report from the Labor Department showed much weaker than expected job growth in the month of May. 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. 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. "It would have taken a horrendous report today to make the Fed think twice about a June rate hike," said James Smith, developed markets economist at ING. "Other recent data has supported the notion that 1Q economic weakness was 'transitory.'" 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. The deficit had been expected to widen to $46.1 billion. Biotechnology stocks showed a significant move to the upside on the day, driving the NYSE Arca Biotechnology Index up by 1.9 percent. Egalet (EGLT), Lion Biotechnologies (LBIO), and Achillion Pharmaceuticals (ACHN) turned in some of the biotechnology sector's best performances. Considerable strength also emerged among software stocks, as reflected by the 1.4 percent gain posted by the Dow Jones Software Index. The index ended the session at a record closing high. Tobacco, housing, semiconductor and airline stocks also saw notable strength on the day, moving higher along with most of the other major sectors. On the other hand, energy stocks came under pressure, moving lower along with the price of crude oil. --------------------------------------------------------------- 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 Revised data released by the Labor Department on Monday showed that U.S. labor productivity was unchanged in the first three months of the year. The Labor Department said productivity came in flat in the first quarter compared to the previously reported 0.6 percent decrease. The revision matched economist estimates. The report also said unit labor costs surged up by 2.2 percent in the first quarter versus the previously reported 3.0 percent jump. Economists had expected the pace of growth to be revised to 2.5 percent. At 10 am ET, the Institute for Supply Management is scheduled to release its report on activity in the service sector in the month of May. The ISM’s non-manufacturing index is expected to dip to 57.0 in May after climbing to 57.5 in April, with a reading above 50 indicating growth in the service sector. The Commerce Department is also due to release its report on new orders for manufactured goods in the month of April at 10 am ET. Factory orders are expected to drop by 0.2 percent. --------------------------------------------------------------- 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 moved lower on Monday after the World Bank kept its outlook for the global economy unchanged, but warned that a lack of clarity about the size of an expected U.S. fiscal stimulus and a buildup of emerging-market debt, notably in China, risk jeopardizing growth around the globe. While the French CAC 40 Index has slid by 0.7 percent, the U.K.’s FTSE 100 Index has fallen by 0.3 percent. The German markets are closed for a holiday. In economic news, euro area private sector growth continued to run at the fastest pace in six years in May, final data from IHS Markit showed, adding to mounting evidence that the euro zone is enjoying a strong second quarter. The composite output index held steady at 56.8 in May, in line with the flash estimate even as the services PMI dropped marginally to 56.3 from 56.4 a month ago. Separately, survey data from IHS Markit and Chartered Institute of Procurement & Supply showed U.K. service sector activity growth eased more than expected in May to the weakest level in three months. The Markit/CIPS services PMI dropped to 53.8 from 55.8 in April. Vodafone has slid in Britain after signing a new partnership with network operator LG Uplus to extend its reach through South Korea. Meanwhile, Ocado shares have soared after the online grocer signed a technology licensing deal with an unnamed European retailer. Royal Mail shares have also moved higher after the provider of postal and delivery services said it is selling two of the seven plots on its Nine Elms site to a U.S. entity for 101 million pounds in cash. --------------------------------------------------------------- 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! When you join The Option Advisor you'll learn how to trade smarter and maximize your returns by utilizing Bernie Schaeffer's 35 years of options trading experience. Each month you'll receive 10 trades targeting triple-digit gains, as well as invaluable market insight and commentary. And if you [click here now you'll receive 12 months FREE!]( --------------------------------------------------------------- Asia markets [To view the charts please add newsdesk@advfn.com to your contact list] USDCAD USDEUR USDGBP USDJPY [USDCAD]( [USDEUR]( [USDGBP]( [USDJPY]( Please click on the images to view our interactive charts Asian stocks moved mostly lower on Monday after a U.S. jobs report failed to meet expectations and Islamic terrorism once again stuck the United Kingdom, killing at least seven people and injuring 48 more. Oil prices rose in Asian trading and a private survey showed activity in China's service sector expanded at a faster pace in May, helping cap regional losses to some extent. The headline PMI rose to 52.8 from 51.5 in April. China's Shanghai Composite Index dropped 14.01 points or 0.45 percent to 3,091.53, with financials and healthcare stocks leading the losses after the China Securities Regulatory Commission allowed four companies to raise up to 1.5 billion yuan (about $220 million) via initial public offerings. Hong Kong's Hang Seng Index slipped 61.06 points or 0.24 percent to 25,862.99. Japanese shares ended roughly flat but remained close to a 22-month high reached last week. The Nikkei 225 Index closed 6.46 points or 0.03 percent lower at 20,170.82 as the yen held steady after Friday's gain. The broader Topix index slid 0.14 percent to 1,609.97. The latest survey from Nikkei revealed that Japan's services sector continued to expand in May and at a faster rate with a PMI score of 53.0, up from 52.2 in April. Automakers Honda Motor and Toyota Motor fell over 2 percent each, while banks Mitsubishi UFJ Financial, Sumitomo Mitsui Financial and Mizuho Financial all ended down over 1 percent. Kanamoto shares bucked the weak trend to end up as much as 8.4 percent after the rental company upwardly revised its operating forecast. Australian shares fell, dragged down by banks, after data showed the U.S. labor market was losing momentum. The day's economic reports on Australian job advertisements, service sector activity and job advertisements proved to be a mixed bag. The benchmark S&P/ASX 200 Index closed down 33.20 points or 0.57 percent at 5,754.90, snapping a four-day winning streak. The broader All Ordinaries Index dropped 29 points or 0.50 percent to 5,792.10. The big four banks fell between 1.3 percent and 1.8 percent, while mining giants Rio Tinto and BHP Billiton lost 1-2 percent. Meanwhile, gold miners Evolution Mining and Northern Star climbed over 3 percent each as gold held steady after hitting its highest level in over six weeks. Biotechnology firm Immuron soared 5.5 percent after the company said sales of its Travelan drug rose 13 percent for the ten months to April 30, 2017. --------------------------------------------------------------- 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 falling $0.29 to $47.37 a barrel after sliding $0.70 to $47.66 a barrel last Friday. Meanwhile, an ounce of gold is trading at $1,284.70, up $4.50 from the previous session’s close of $1,280.20. On Friday, gold climbed $10.10. On the currency front, the U.S. dollar is trading at 110.60 yen compared to the 110.40 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is valued at $1.1245 compared to last Friday’s $1.1279. --------------------------------------------------------------- 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 ... FREE]( --------------------------------------------------------------- To unsubscribe from this news bulletin or edit your mailing list settings click [here](. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49