Afternoon Note
The major indices took off after the jobs report and haven’t looked back and are up close to 1% on the day. All sectors are in the green higher, except for Energy, with Technology, Healthcare and Communications Services leading the way.
S&P 500 Index |
+0.95% |
|
Communication Services (XLC) |
+1.01 |
|
Consumer Discretionary (XLY) |
+0.64% |
|
Consumer Staples (XLP) |
+0.79% |
|
Energy (XLE) |
|
-0.21% |
Financials (XLF) |
+0.87 |
|
Health Care (XLV) |
+1.17% |
|
Industrials (XLI) |
+0.60% |
|
Materials (XLB) |
+0.66% |
|
Real Estate (XLRE) |
+0.20% |
|
Technology (XLK) |
+1.25% |
|
Utilities (XLU) |
+0.84% |
Fed Chair Powell will be speaking at 2, and depending on what he says, the markets could get an even bigger lift. For now the major indices are up:
On the economic front, according the U.S. Bureau of Economic Analysis (BEA), the U.S. monthly international good and services trade deficit increased in August 2019 from $54.0 billion in July (revised) to $54.9 billion in August, as imports rose more than exports. The goods deficit increased $0.8 billion in August to $74.4 billion, while the services surplus decreased less than $0.1 billion in August to $19.5 billion.
The average goods and services deficit declined $0.3 billion to $54.8 billion for the three months ending in August.
Year-over-year, the average goods and services deficit rose $3.2 billion from the three months ending in August 2018.
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