“Two Roads Diverged”
We heard from a few readers on the subject of marijuana. Keep the feedback coming.
Read on for one reader’s opinion…
“First of all, I thoroughly enjoy your daily email. It is one of the few emails that I look forward to receiving… I like the topics, opinions, etc.
“It allows me to see other peoples’ perspectives that I might not have considered….
“I don’t use CBD but would if it were less expensive. I am hoping that it will soon become as popular as alcohol consumption — causing more growth, more competition, better prices.
“I do use hemp oil for pain relief (arthritis) and sleep aid but it’s not as effective, in my opinion, as CBD.
“Voters in the state I live in (MO) passed medical marijuana. I voted for it and would do so again as long as it is regulated in some way (no matter how ineffective the regulation might be).
“I have been a user and abuser of marijuana in the past; I know how effective it can be for relieving pain, sleeping, etc. As with any drug, used in the proper way, marijuana can be an effective aid in healing and recovery.
“I see no difference between marijuana and other opioid drugs used by medical professionals. You can abuse it or use it wisely as you would any other drug (including alcohol).”
Your Rundown for Friday, June 7, 2019:
We reported Wednesday the ADP/Moody’s Analytics numbers for private job growth — just 27,000 new jobs added in May.
Of more importance, the Bureau of Labor Statistics reports this morning just 75,000 jobs were added versus the 175,000 economists expected.
The BLS also reports the official unemployment rate, 3.6%, held steady from April as real unemployment dropped to 7.1%, the lowest since 2000.
Wage gains, on the other hand, slowed a fraction of a percent.
“While much of the attention from investors has been focused on trade disputes and the potential for a slowing economy, today’s disappointing employment report provides further evidence that the end of the business cycle is upon us and economic activity is slowing,” says Senior Analyst Charlie Ripley of Allianz Investment Management.
Counterpoint: “While the slight decline in wage growth will support the Fed’s patient stance on rates, the average pace of job growth over the last 3 months (at 151,000) is hardly alarming,” says economist Brian Coulton at Fitch Ratings.
“It speaks to a slowdown in the domestic economy but there’s no suggestion of demand falling off a cliff.”
In your opinion, is the U.S. economy at a crossroads? Next stop, recession?
Or is fretting over the jobs number much ado about nothing?
Market Rundown for Fri. June 7, 2019
S&P 500 futures are up 26 points to 2,870.
Oil is up 53 cents to $53.12 for a barrel of West Texas crude.
Gold’s up $3.30 to $1,346.00 per ounce.
Bitcoin? Just about $22 under $8,000.
Have a great weekend. In the meantime, check out The Rundown Saturday recap.
For the Rundown,