(MENAFN– ecpulse) Today will be a third calm day for the U.S economy as there is a lack of data yet mixed sentiments remain sensed as a result of last week astonishing and unexpected jobs report along with a cheerful Fed Beige Book; both confirming that an economical progress remains clearly in process.
In fact later on today only one report will be released; the country’s monthly budget statement for the month of May, with so far a projected deficit of 130.0 billion dollars and accordingly similar to yesterday Wall Street may witness a volatile or calm trading.
Yesterday for instance till the closing session there was ttle news for investors to trade on Tuesday. Whole sale inventories came out better than estimated, while the National Federation of Independent Business’s small-business optimism index for May climbed to 96.6, it’s highest since September 2007.
Although both the Dow Jones and the S&P 500 closed at new record highs Monday, with the Dow scoring its ninth record close this year, while the S&P 500 notched its 19th record. However, gains in stock markets were modest as a result of this week’s overall lack of data.
Yet slight sentiments of optimism remain spotted since last week where the labor market affirmed and made it obvious to the American public that job growth in the U.S. continued to get larger as payrolls jumped to re-recession peak in May, adding to signs of the apparent traction of the U.S. economy.
If truth be told the awaited jobs report that were released last week showed this time that the country’s jobless rate held at 6.3%, the lowest in around 6 years.
Non-farm payrolls came at 217,000 in May following a 282 gain in April, according to data by the U.S. Labor Department. Analysts by Bloomberg called for an increase of 215,000.
The figures that both markets and the U.S. Federal Reserve keep receiving about the U.S. economy continue to boost investor sentiment in the economic growth of the U.S.
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