2019 Econoday Investor's Journal Buy Now
Market Reflections  

January 5, 2017
Today's run of advance indications on December's labor market conditions is unclear. ADP is calling for slower-than-expected results while the ISM non-manufacturing employment index is also pointing to weakness. Pointing to significant strength, however, are initial jobless claims which fell very sharply in the last week of the month. Jobs aside, Markit's December report points to strength for the service sector as does the ISM's report which shows a major jump in new orders.

The Dow once again failed to make a move on the 20,000 level, ending 0.2 percent lower at 19,899. An overnight surge in the yen contributed to a 1 percent decline in the dollar index to 101.49. Money moved into the bond market where the 10-year Treasury yield fell 7 basis points to 2.36 percent. Oil rose about 50 cents to the $53.50 area, getting a boost from a large draw in weekly oil inventories. And Gold found buyers, up about $15 to $1,180.