I’ll post the Market Report and market analysis after the close.
PRODUCTIVITY (Briefing.com)
“Nonfarm labor productivity increased 2.5% in Q2 2014
following a downwardly revised 4.5% (from -3.2%) decline in the first quarter.
The Briefing.com consensus expected nonfarm productivity to increase 1.4%. Year-over-year, productivity increased 1.2% in the second
quarter…Productivity gains help keep cost-push inflation pressures from rising
wages in check. Over the long term, it is productivity gains that provide the
increase in output that have led to the consistent gains in living standards in
free market economies.” Full story at…
https://www.briefing.com/Investor/Calendars/Economic/Releases/prod.htmRUSSIA ENDS UKRAINE BORDER EXERCISES (Bloomberg.com)
“U.S. stocks rebounded, with the Standard & Poor’s 500 Index erasing declines for the week, as signs tensions are easing in Ukraine outweighed concern over crises in the Middle East…Equity futures jumped earlier today after RIA Novosti reported that Russia seeks a de-escalation of the conflict in Ukraine. Stocks extended gains in the afternoon as Interfax said military exercises near the Ukraine border are over, citing Russia’s defense ministry.”
http://www.bloomberg.com/news/2014-08-08/u-s-index-futures-slump-after-obama-authorizes-iraq-air-strikes.html
The news about the end of the war exercises moved the markets upward. This move was a surprise to CNBC commentators because the end of exercises had been previously announced. The Markets had been waiting for any reason to move up since a bounce was overdue.
