Friends

 

Today’s job openings number (JOLTS) set another record with more than 10 million job openings at the moment in the United States. What is even more fascinating is the number of folks quitting their current jobs. 3.9 million people quit their jobs in June which was even more than the previous month’s staggering number. I guess folks are confident that they can get a better job.

 

Stocks were mixed to open the week with the Dow slumping while the Nasdaq posted gains. For the day the Dow Jones Industrial Average was down 106 points to close at 35,101. The S&P 500 was down 4 points to finish the day at 4,432. The Nasdaq Composite Index was up 24 points to close at 14,860. Gold continues to struggle with the precious metal down $31 to trade at $1,731. Oil was down $1.52 to trade at $66.76 per barrel WTI.

 

Longer term bond yields continue to tick up just a hair with the 10 year note now yielding 1.32%. Evidently we are going to get a vote on the infrastructure spending bill tomorrow morning. I assume the markets have discounted government spending by now, but I guess we will see. In the meantime let’s see how the week plays out.

 

Have a nice evening everyone.

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