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Market Reflections  

Highlights
December 6, 2018
Moderation is the theme of today's data run beginning with ADP and jobless claims that are both pointing to easing strength for tomorrow's November employment report. And easing GDP growth is the signal from October's trade deficit which widened sharply and points to another quarter of weakness for the nation's net exports.

Stocks opened sharply lower following the arrest in Canada of a Huawei top executive reportedly over the violation of U.S. sanctions on Iran. But stocks rallied late in the session to trim the Dow's loss to only 0.3 percent at 24,947 with the Nasdaq posting a 0.4 percent gain on the day to 7,188.

Bonds ended little changed after heavy buying early in the week with the 2-year ending at 2.76 percent and the 10-year at 2.89 percent. Oil slipped back below $52 despite a large draw in weekly inventories while gold firmed to $1,245. The dollar index slipped 0.3 percent to 96.73.


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