1) The jobs report Friday was better than expected, up from last months 190,000, with 263,000 jobs reported and unemployment down again to 3.6%. This underscores the economy’s vigor with unemployment at half the century low. This may eliminate the markets fears of a recession.
2) This Friday, just after midnight, China will have an additional 25% tariffs imposed. However, there are fears that domestic Chinese politics may cause the ploy to backfire, from the Chinese people seeing their government backing down to America. Therefore, the Chinese government may not be able to respond as Washington is expecting.
3) Fears of the consequences of more tariffs on China caused a slight downturn of today’s market closings.
4) 6 MAY 19 Stock market closings:
Dow 26,438.48 down 66.47
Nasdaq 8,123.29 down 40.71
S&P 500 2,932.47 down 13.17
10 Year Yield: down at 2.50%
Oil: down at $62.04