2019 Econoday Investor's Journal Buy Now
Market Reflections  

January 4, 2018
Friday's employment report looks to be strong based at least on today's economic news. ADP is calling for an outsized 250,000 private payroll gain while both Challenger's layoff count and weekly jobless claims remain low and favorable.

Stocks continue their strong drive into the new year as the Dow, now over 25,000, rose a sharp 0.6 percent to 25,075 and yet another record. Oil drillers posted gains after the Trump administration announced the lifting of offshore restrictions. And oil continues to push out to new 3-year highs, up slightly and near $62 and helped by another sharp draw in weekly inventories.

Bonds held steady with the 10-year Treasury yield edging lower to 2.45 percent. Lower yields are often a negative for the dollar which fell 0.3 percent on the dollar index to 91.88.