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WEEKLY MARKET DIGEST: GOLD FALLS, STOCKS AND RATES RISE IN RESPONSE TO BLOWOUT EMPLOYMENT DATA $GLD $SLV $SPY $QQQ $DIA $TBT $USO

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(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers. ) 

MORNING CAPSULE: UNEMPLOYMENT DROPS TO NEAR SIX YEAR LOW, INTEREST RATES AND STOCKS JUMP BUT GOLD FALLS

July 3, 2014
In a report by the US Department of Labor, unemployment rate fell to a near six-year low to 6.1%.  The economy added 288,000 new jobs in June vs. consensus of 215,000.Interest rates are jumping on the prospects of strong economy.In early trade, stocks are also jumping on the prospect of strong economy.

Gold is falling on the theory that less QE will be needed.

Investors should consider that stock bulls may have second thoughts if interest rates rise any further.

European Central Bank left interest rates unchanged and reaffirmed commitment to unconventional means, their parlance of QE.

International subscribers please note that the markets will close early today and will be closed for holiday tomorrow.

Gold futures are at $1317, silver futures are at $21.02, and oil futures are $104.07.

S&P 500 resistance levels are 1975, 2000, and 2017; support levels are 1950, 1925, and 1900.

DJIA futures are up 41 points.

MORNING CAPSULE: BLOWOUT ADP EMPLOYMENT NUMBER, GOLD RESPONDS

July 2, 2014
ADP Employment Change came at 280k vs. 200k consensus. Gold is responding by pulling back. Also in response, interest rates are moving higher.Oil is trading below $105.All eyes will be on mother of all data, employment data from the U.S., tomorrow morning.

See also  WEEKLY STOCK MARKET DIGEST: WHAT PRUDENT INVESTORS NEED TO KNOW NOW

The new money that comes in the beginning of the month is propelling stocks higher but it is time to be cautious , not extreme cautious.

 

Gold futures are at $1323, silver futures are at $20.93, and oil futures are $ 104.95.

S&P 500 resistance levels are 1975 2000, and 2017 ; support levels are 1950, 1925  and  1900.

DJIA futures are up 16  points.

MORNING CAPSULE: STOCKS POSITIVE IN EARLY TRADE ON CHINA DATA, QUARTE END MOVE IN GOLD

July 1, 2014
Overnight China PMI came higher than  the consensus.  This is leading to an up movein stocks in the early trade.After the pit close, gold made a strong move up in Quarter end window dressing.

Gold futures are at $1326., silver futures are at $21.07, and oil futures are $105.84.

S&P 500 resistance levels are 1975 and  2000; support levels are  1950, 1925  and 1900 .

DJIA futures are up 47 points.

MORNING CAPSULE: QUARTER END WINDOW DRESSING, OIL AND GOLD WEAK

June 30, 2014
Money managers their quarter end holdings to their clients. Money managers want to look good to their clients; they sell underperforming stocks and buy popular stocks at the quarter end. This phenomenon is called window dressing. Most of it finished the last week.  Today we will see cross currents from some continued window dressing  on one hand and attempts to take advantage of the exaggerated moves from the last week by those who do not need to do window dressing.Gold and oil are weaker in early trade as investors are realizing that Iraq fears may be overblown.Interest rates are range bound.

See also  FOREIGNERS DUMP THE DOLLAR, GOLD AND YEN ACT AS SAFE HAVEN, JPMORGAN HELPS STOCK MARKET, COOLER PPI

Gold futures are at $1314, silver futures are at $20.89, and oil futures are $105.27.

S&P 500 resistance levels are 1975 and 2000 ; support levels are 1950 1925,  and 1900 .

DJIA futures are down 8 points.

 

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