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It’s Friday, that means it’s time for non-farm payrolls: US job growth missed expectations in May, while April’s figure was revised significantly lower.  Employers added 138,000 jobs in May, a report from the labor department shows. That compares with Wall Street expectations of 182,000. The April gain was revised lower to 174,000 from 211,000 previously.  Wage growth was also a tad weaker than forecast: Average hourly earnings were up 2.5 per cent year-over-year. (FT)

 

Crude prices have fallen almost 3% amid fears that the U.S. withdrawal from the Paris accord will trigger more American drilling. Is it already happening? The U.S. oil industry exported a record 1.3M barrels of crude per day onto the world market last week - just a half million barrels less than the cuts OPEC and Russia agreed to make to daily production. (SA)

 

Illinois is on the verge of becoming the first state with a junk-bond rating following downgrades from Moody's Investors Service and S&P Global Ratings. Partisan gridlock is to blame. The state hasn't had a budget in place for the past two years because of a standoff between Republican Governor Bruce Rauner and the Democrat-run legislature. (SA)

 

S&P 500 futures are up 1 and NASDAQ futures are up 11. The MSCI international index is up 3/5%.

Oil is down $1 at $47.49 a barrel.

Gold is up $1 at $1271 a Troy ounce.

 

With Northwest Quadrant Wealth Management, a Registered Investment Advisor, I'm Josh Fenili.

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Help Puerto Rico

Most organizations are asking for cash, rather than supplies, so they can route help to where it’s needed most more quickly. Here are some of the largest groups with campaigns underway:

 

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  • Click on the link for the latest conditions on the mountain passes.

 

  • Intersection of NW Broadway Street and NW Delaware for waterline replacement project, road closures with detours clearly marked for thru traffic, 7 a.m. – 4 p.m. daily with roads opened nightly. Motorists are encouraged to avoid this area and use Bond Street and Wall Street.

 

  • Nels Anderson Road between Nels Anderson Place and Brandis Court, single northbound shoulder closure will be in effect, two-way traffic to be maintained. Project completion expected December 2017.