Equity Market Insight from Nasdaq MID - June 1, 2017

Thursday, June 1, 2017, 10:15 AM, EST

  • NASDAQ Composite +0.29% Dow +0.11% S&P 500 +0.23% Russell 2000 +0.55%
  • NASDAQ Advancers: 1589/ Decliners: 770
  • Today’s Volume (100day avg): +8.72%

Markets are off to a brisk start to June as the “sell in May and go away” mantra failed for 2017 as markets closed in the green for the month. As matter of fact, for the past 5 years, May has finished in the positive territory. The Nasdaq composite has averaged over a 3% return since 2013 for May. This morning we are seeing follow-though as 8 of the 11 S&P 500 sectors are in the green with Health Care (+0.70%) and Materials (+0.68%) leading the way.

  • The ADP National Employment Report was a strong report calling for more job creation in the U.S. ADP said 253,000 workers were added to the payroll in May versus polled expectations of 180,000. Private payroll gains in April were revised slightly down to 174,000 jobs form 177,000 initially reported. This is a robust report with confirmations coming tomorrow morning with the non-farm payroll report due out at 8:30am EST.
  • Unemployment numbers released by the U.S. Department of Labor were slightly higher than polled expectations as Initial Jobless Claims for the week were 248,000 vs economists’ expectations of 238,000. Last week’s numbers were more or in less in line only being revised up by 1,000 claims. Reported Continuing Claims were better than expected at 1.915 million claims vs estimates of 1.920 million. Again, confirmation of a strong labor market…
  • Crude oil is flat this morning after two days of declines. API inventory data out last night indicates a sizable draw down of about 8.7M barrels, the largest such decline since last September. DOE data is delayed until late this morning and expectations call for a draw of about 2.7M barrels.

Nasdaq's Market Intelligence Desk (MID) Team includes:

Michael Sokoll, CFA is a Senior Managing Director on the Market Intelligence Desk (MID) at Nasdaq with over 25 years of equity market experience. In this role, he manages a team of professionals responsible for providing NASDAQ-listed companies with real-time trading analysis and objective market information.

Jeffrey LaRocque is a Director on the Market Intelligence Desk (MID) at Nasdaq, covering U.S. equities with over 10 years of experience having learned market structure while working on institutional trading desks and as a stock surveillance analyst. Jeff's diverse professional knowledge includes IPOs, Technical Analysis and Options Trading.

Steven Brown is a Managing Director on the Market Intelligence Desk (MID) at Nasdaq with over twenty years of experience in equities. With a focus on client retention he currently covers the Financial, Energy and Media sectors.

Christopher Dearborn is a Managing Director on the Market Intelligence Desk (MID) at Nasdaq. Chris has over two decades of equity market experience including floor and screen based trading, corporate access, IPOs and asset allocation. Chris is responsible for providing timely, accurate and objective market and trading-related information to Nasdaq-listed companies.

Annie O'Callaghan is Director on the Market Intelligence Desk (MID) at Nasdaq. Annie has worked for NASDAQ in a variety of roles including support of Nasdaq C-level management in client retention and customer service. Annie also served as a Sales Director in Nasdaq’s Transactions Services business. Prior to joining Nasdaq, Annie worked at AX Trading, managing accounts for its Alternative Trading System and served on Credit Suisse's trading desk as an Electronic & Algorithmic Sales Trading Analyst.

Brian Joyce, CMT has 16 years of trading desk experience. Prior to joining Nasdaq Brian executed equity orders and provided trading ideas to institutional clients. He also contributed technical analysis to a fundamental research offering. Brian focuses on helping Nasdaq’s Financial, Healthcare and Airline companies among others understand the trading in their stock. Brian is a Chartered Market Technician.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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