May 10th Market Report
Unemployment Is Up
Gold moved to $1,850.21 per ounce as of 9 a.m. EDT Monday. Oil and Gold both rose Monday as material shortages in the United States continue to foster inflation fears.
Analysts revealed that American jobs trended downward in April. Unemployment is slightly up at 6.1%, generating concerns about sustained economic recovery.
Following a late-week cyberattack on a massive fuel pipeline, fuel suppliers fear a gas and diesel shortage. If the shortage lasts more than a few days, East Coast buyers could feel the pinch soon from widespread shortages.
Markets generally started the week well. Futures fell, the dollar waned and Treasuries were largely unmoved.