Morning Market News Digest And Comments 早盘市场新闻摘要及评论

Pacific Time 7:56 AM : Dow +318，  S&P 500 +37， Nasdaq+132， Russell 2000 +15 ,WTI crude oil +1.62%，Gold+0.42%， US dollar index-0.55%, 10 Year Treasury yield 2.071%-0.053

Oversea markets: Shanghai closed, Japan+0.53%, Hong Kong closed, Germany+0.98%, UK+1%, France+1.82%.

Weak sectors: OIH, UUP Strong sectors:SLV, IGV, FXI, EEM, GDXJ, XLY, FDN, EWG

Major US stock market indexes opened up and continue going up after May non-farm payroll report came in much weaker than expected and fueling interest rate cut speculation. Meanwhile US-Mexican trade negotiation continues into the third day. The Dow has risen 5.4% since June 3rd and has been up 4 days in a row. The Dow is slightly above its 50 day moving average at 26000. This level should be the level to content with by traders. One interesting fact for today is the ETFs for fear gauge VIX such as VXX and UVXY movements are diverged with the general market, i.e. big up in the stock market but up for these ETFs also. This is indicative of active buying of market hedge as the stock market is surging up. May be it's time to be cautious before the tariffs on Mexican products might still apply next Monday.

Economists said the May jobs report didn’t offer much in the way of good news but that it increased bets the Federal Reserve would cut interest rates before the year is over. The U.S. created only 75,000 new jobs in May and employment gains in the prior two months were scaled back, offering more evidence that the economy is slowing. The unemployment rate was flat at 3.6%. The increase in new jobs was way below the 185,000 MarketWatch forecast. ---Market Watch

In headlines hitting the Bloomberg just minutes after the lame jobs report sent futures headed lower, the U.S. will give some Chinese products more time before being subject to higher tariffs. ---Seeking Alpha

Talks between the U.S. and Mexico are set to continue into a third day in a bid to reach an agreement that would stop the imposition of 5% tariffs on American imports from its southern neighbor on Monday. Mexican Foreign Minister Marcelo Ebrard confirmed that his government has offered to send about 6,000 national guard troops to Mexico’s southern border with Guatemala to help stem migration, while Vice President Mike Pence said it is still the U.S. plan to go ahead with the tariffs. He said he would talk to President Donald Trump over the weekend to update him on developments ahead of the deadline. ---Bloomberg

Further signals of an economic slowdown are continuing to build, with Germany reporting a staggering 3.7% plunge in April exports - the most in nearly four years - alongside a 1.9% contraction in industrial output. The figures were severe enough for the country's central bank, the Bundesbank, to slash its 2019 GDP forecast in half to just 0.6%. "For economic growth and, to a lesser extent, for the rate of inflation, it is the downside risks that predominate as things stand today," the central bank said in a biannual update of its projections.---Wall Street Breakfast

Macquarie maintains an Outperform rating and $50 price target on Micron (NASDAQ:MU) but trims his estimates for both earnings and revenue for the next two quarters. Analyst Srini Pajjuri says Micron is "compelling given the valuation" due to DRAM supply discipline, stronger book-to-sales, and "much improved execution." ---Seeking Alpha





太平洋时间上午7:56：道指+318，标普500 +37，纳斯达克+ 132，罗素2000 + 15，WTI原油+ 1.62％，黄金+ 0.42％，美元指数 -  0.55％，10年期国债收益率2.071％ -0.053

海外市场：上海收盘，日本上涨0.53％，香港收盘，德国+ 0.98％，英国+ 1％，法国+ 1.82％。

弱势行业：OIH，UUP  强势行业：SLV，IGV，FXI，EEM，GDXJ，XLY，FDN，EWG

5月份非农就业报告弱于预期而加剧了降息预期，美国主要股市指数高开并继续上涨。与此同时，美墨贸易谈判持续到第三天。道琼斯指数自6月3日以来已上涨5.4％，已经连续4天上涨。道指现在略高于其50日均线26000点。该水平应该是交易者攻防的水平。今天有一个有趣的事实是恐慌指数VIX 的ETF (如VXX及UVXY）表现与股市走势背离，即股票市场大幅上涨而这些ETFs 却也上升。这表明随着股市的飙升，市场对冲活跃。在墨西哥产品的关税可能仍然会在下周一实行，或许是对股市保持谨慎的时候了。

。经济学家表示，5月份的就业报告没有提供太多好消息，美联储将在年底结束前降低利率。美国5月份创造了仅75,000个新工作岗位，前两个月的就业增长缩减，提供了更多证据表明经济正在放缓。失业率持平于3.6％。新工作岗位的增加远低于市场观察预测的185,000。 ---Market Watch

。在不好的就业报告导致期货价格下跌几分钟之后触及Bloomberg的头条新闻：美国将给予一些中国产品更多的时间，然后再征收更高的关税。 ---Seeking Alpha

。美国和墨西哥之间的谈判将持续到第三天希望能达成协议，该协议将停止周一从其南部邻国对美国进口产品征收5％的关税。墨西哥外交部长马塞洛·埃布拉德证实，他的政府已提出向危地马拉向墨西哥南部边境派遣大约6,000名国民警卫队，以帮助阻止移民，而副总统迈克·彭斯说，美国仍然计划继续实施关税。他说他将在周末与唐纳德特朗普总统谈话，以便在截止日期前向他通报事态发展。 ---彭博

。经济放缓的进一步信号正在继续建立，德国报告4月出口猛跌3.7％ - 为近四年来最多 - 同时工业产出收缩1.9％。对于该国央行德国央行（Bundesbank）来说，这一数字足够严重，将2019年的GDP预测削减一半，仅为0.6％。 “对于经济增长，以及在较小程度上，对于通货膨胀率来说，正如今天的情况一样，下行风险占主导地位，”央行在一年两次的预测中表示.---Wall Street Breakfast

。麦格理维持对美光（MU）的优于大市评级和50美元的价格目标，但削减了他对未来两个季度的收益和收入的预期。分析师Srini Pajjuri表示，由于DRAM供应的控制，预定销售强劲以及“执行力大大提高”，美光公司“估值很高”。 ---Seeking Alpha