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Market Flash: Market Mixed

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From The Trading Floor: The markets have rebounded this morning after the Futures were down as the Non-Farm payroll number exceeded the magical 200,000 mark for the 6th straight month. The 209,000 was less than expected which also eased speculation that the Fed would look to raise rates in the near term

  • Payrolls in the U.S. rose by 209,000 for July the 6th straight month over 200,000, but slightly less than the 230,000 estimated. 

  • The Jobless Rate increase to 6.2%

  • The Labor Participation Rate remained largely unchanged at 62.9%

  • The average workweek was unchanged at 34.5 hours

  • Consumer Spending in the U.S. rose in June by 0.4%, the most in 3 months signaling that continued job growth will continue to bolster the economy.

  • The PCE Deflator came in as expected at 0.2% for June

  • The University of Michigan Consumer Confidence number came in at 81.8 an increase of the previous period of 81.3

  • ISM Manufacturing for July rose to 57.1 from 55.3 the previous period

  • Construction Spending declined -1.8% in June

  • Mobileye (MBLY) priced 35.6 million shares at $25. The opening print was $36.00 on 4,820,825 shares.

  • Vitti Energy Partners (VTTI) priced 17.5 million shares at $21. The opening print was $21.00 on 2,138,583 shares.

  • Financial Holdings Inc. (FCB) priced 7.52 million shares at $22. It opened at $20.50 on 1,021,043 shares. 

  • Ford July sales +10%

  • Chrysler sales rose 20% in July

  • Nissan sales rose 11% for July

  • Some of Russia's largest companies are starting to move their cash reserves to Asian banks as worries surface that Russia could eventually be completely shut out of U.S. dollar funding markets.

  • Petrobras shut production at one of its offshore oil platforms after a spill and fire broke out during maintenance

  • Resistance today looks to be at the 1953 / 1956 level with support at 1919 / 1922


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