The U.S stocks closed higher modestly for the week. The U.S. economy added 559K jobs in May compared with 278K in April but below market forecasts of 650K. That leaves employment about 7.6 million jobs below its peak in February 2020. Source (https://www.bls.gov/). The 10-year U.S. Treasury bond yield slipped to 1.55%, down from a recent high of 1.74% in late March on an upward swing of job data.

US_JOB_REPORT_2021-06-07-Stocks Closed Higher Modestly

The U.S benchmark Indexes added about 0.48% to 0.82% as a weekly gain. The midcap index Russel-2000 outperformed. S&P 500 and the Dow just close to the record-high levels. According to FactSet, analysts raised their earnings forecasts for S&P 500 companies by 5.8% for the second quarter. 

The shares in Europe rose on optimism on economic recovery. However, worries that central banks might begin withdrawing stimulus sooner than expected because inflationary pressures curbed equities’ advance. Eurozone inflation increased 40 basis points sequentially to 2% in May—above the ECB’s stated target level. Nevertheless, the top indexes closed higher about 0.49% to 1.59%. The Italian Index FTSE-MIB Index outperformed.

Most APAC market shares ended in a mixed direction. The indexes CSE-50, HIS-50, and Japan’s Nikkei-225 declined about -0.7%.  However, the indexes ASX-200, KOSPI-100, and Nifty-50 show a solid weekly gain of above 1.5%.

Weekly market movement

Underlying_2021-06-07-Stocks Closed Higher Modestly

Gold ended with a flat movement. U.S. crude oil prices climbed more than 4% for the second week in a row, pushing prices to nearly $70 per barrel, the highest level in more than two and a half years. The latest gains came after top oil-producing countries agreed to maintain supply restraints. Bitcoin is trading around 35K USD, and there is no clear direction at the moment. (https://coinmarketcap.com/currencies/bitcoin/news/).                                                                       

Sentiment Analysis

The below figures shows the news and social media sentiment trend for the week. Global Sentiment remains mixed in a row. Likewise, the Sentiment for the U.S benchmark indexes shows a mixed signal. S&P-500 index turns into the positive mode in sentiment direction. However, The Nasdaq-100 index turned negatively from its bullish trend last week. The rest remains neutral.

The Sentiment of the top European benchmark indexes Dax-30 and CAC-40 turns in the upward direction. On the other hand, The Italian index FTSE-MIB shows a strong downtrend in the sentiment direction.  

The sentiment trend for the APAC indexes Nikkei-225 and HIS-50 turns into a Negative zone. The rest of the indexes dominated by the neutral view for the week.

Sentiment Trend Chart

Sentiment Chart_2021-06-07-Stocks Closed Higher Modestly

The following critical economic data refer to https://www.fxstreet.com/economic-calendar, including CPI, consumer credit, and hourly earnings.

Sentiment Values

Sentiment Table_2021-06-07-Stocks Closed Higher Modestly

Note: The sentiment scores applied as an additional overlay to your existing models to further improve performance.

Buy & Sell Signals

The below table shows the buy/sell signals generated based on InfoTrie’s proprietary Investment/ Trading models. These models developed using technical, fundamental, quantitative techniques and the news-based sentiment score as an additional overlay.

I have tabulated the random signals from several InfoTrie’s Trading/Investment models.

Buy_Sell_2021-06-07-Stocks Closed Higher Modestly

The news sentiment score provides a significant improvement, significant “Alpha” compared to the traditional investment/trading models.

 For more details on the analysis, accessing complete tear sheets or white paper for the models, subscription details for News Sentiment data and other consulting works, please contact us with the information below.

InfoTrie Financial Solutions Pte. Ltd.
Alternative Data, Sentiment Analysis, Financial I.T. and A.I. Consulting

Read our previous blog posts. Want to access our data? Try our API or access our FinSentS platform

contact@infotrie.com
Suresh Kumar Ramani +65 9337 6035
Frederic GEORJON +33 (0)6 1304 0600


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