FINWIRES · TerminalLIVE
FINWIRES

Daily Roundup of Key US Economic Data for May 6

By

-- ADP private payrolls rose by 109,000 in April after a 61,000 gain in March.

The services sectors added 94,000 jobs, led by a 61,000 gain in education and health services jobs. Goods sector payrolls increased by 15,000 jobs, with construction payrolls up 10,000 and manufacturing payrolls up 2,000.

The Mortgage Bankers Association reported a 4.4% decline in mortgage applications in the week ended May 1 after a 1.6% drop in the previous week. Refinancing activity and new home applications both declined due to lower mortgage rates.

Total crude oil inventories fell by 7.5 million barrels in the week ended May 1, with commercial oil inventories down 2.3 million barrels and stocks in the US Strategic Petroleum Reserve down 5.2 million barrels. Gasoline inventories and distillate inventories both decreased last week.

Related Articles

Oil & Energy

US Biofuels Update: Peace Agreement Talks Sink Soybean, Soybean Oil Futures

Biofuels feedstock futures closed sharply lower on Wednesday, as a rumor that the US and Iran were near a peace agreement pressured broad markets.The Chicago Board of Trade July soybean futures contract closed 1.38% lower at $11.94 per bushel, while the CBOT July soybean oil futures contract settled 2.46% lower at 75.02 cents per pound.On Tuesday, the June ethanol futures contract on the Nymex ended 0.98% lower at $2.03 per gallon.US President Donald Trump warned of higher intensity bombings if Iran does not agree to a deal. He said the US is also pausing efforts to escort ships through the Strait of Hormuz.Broadly, US officials played down Iran's strikes on US warships.Rhett Montgomery, DTN analyst, said the soybean market fell for a second straight session."Soybean prices were primarily pressured by a sharply lower soybean oil market (by way of lower energy futures), albeit the first lower session for that market in ten sessions," Montgomery said in a daily note."Now with the President Trump visit to China appearing to be on schedule to occur regardless, rumors of de-escalation have become bearish given the weight on energy futures and soybean oil's sensitivity to those markets, particularly diesel," Montgomery said.On Wednesday, the Energy Information Administration reported that for the week ending May 1, US ethanol production averaged 1.02 million barrels per day, above 1 mmb/d last week and unchanged from 1.02 mmb/d a year ago.Domestic ethanol inventories ended the week at 26 million barrels, above 25.9 mmbbls a week ago, and 25.2 mmbbls a year ago.

Australia

Market Chatter: Flutter Unit FanDuel's CEO Ousted After Five Years at Company

Flutter Entertainment (FLUT) unit FanDuel's chief executive officer Amy Howe has been ousted from the post after five years with the company, CNBC reported Wednesday, citing people familiar with the matter.FanDuel's president Christian Genetski is expected to take up the CEO role, the people said, according to the news outlet.Flutter Entertainment declined to comment formally, but said it is not challenging the CNBC piece, while FanDuel did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $99.41, Change: $-3.92, Percent Change: -3.79%

$FLUT
Australia

Update: DaVita Shares Rise After Deutsche Bank Upgrade

(Updates with the stock price movement and upgrade in the headline and first paragraph.)DaVita (DVA) shares rose 22% in Wednesday trading after Deutsche Bank upgraded the stock to buy from hold and boosted its price target to $220 from $126, a day after the company reported better-than-expected Q1 results.DaVita's adjusted earnings rose to $2.87 per diluted share from $2 a year earlier.Analysts polled by FactSet expected $2.33.Revenue in the three months ended March 31 rose to $3.42 billion from $3.22 billion a year earlier.Analysts surveyed by FactSet expected $3.36 billion.The company boosted full-year guidance for adjusted EPS from continuing operations to the range of $14.10 to $15.20 from the prior forecast of $13.60 to $15.Price: $191.63, Change: $+34.59, Percent Change: +22.02%

$DVA