Market Snapshot April 9, 2019
Good Morning on this fantastic Tuesday,
Bonds are improving as equities are not… The data today, JOLTS job opening report was released and there are considerably fewer jobs open this month in comparison to last month. Combine this with last week’s Challenger Job Layoff report which spiked, and you get a picture of a slowing job market! Also, the IMF has revised their 2019 global job growth number down from 2.5% to 2.3%, as was the US. The EU zone was lowered from 1.6% to 1.3%. Stocks are not happy with this news and the Dow now down 150 points. If all of this is not enough, we are now bringing the EU into our trade war. We announced new tariffs and they immediately punched back with their own host of tariffs. The news this week is fairly light, but there are a couple of important releases, the most important being CPI. FOMC minutes will be released on Wednesday afternoon and could give additional insight into discussions during FOMC last month.
Make today great!