| The KUIK Market Update for Thursday, January 3: | |||||||
| Markets are down after yesterday’s big up day. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (29) | points | 13,383 | 7:57 AM | ||
| S&P500 | Down | -0.2% | percent | 1,460 | (2.13) | points | |
| Nasdaq Composite | Down | -0.1% | percent | 3,109 | (3.64) | points | |
| 30 Year Treasury | Up | 3 | Basis Points | 3.08 | Annual Yield | ||
| Markets were set to open lower but the ADP jobs report showed companies added 215,000 workers in December, higher than projected. The median forecast of economists surveyed by Bloomberg called for 140,000. | |||||||
| The Labor Department reports initial jobless claims climbed by 10,000 to a seasonally adjusted 372,000 in the week ended Dec. 29. Economists surveyed by MarketWatch called for 360,000. Claims from two weeks ago were revised upward to 362,000 from an initial read of 350,000. | |||||||
| Retailers are cautious on the new year on as chains some fo the big chains missed sales expectations in December. Target reported flat sales, and teen clothing retailer Wet Seal Inc. said fourth-quarter profit will be at or near the low end of their previous forecast ranges. Family Dollar gave a disappointing fiscal-second-quarter outlook after its first-quarter results fell short. | |||||||
| Not everyone is celebrating the budget deal. Moody’s Investors Service said that the budget agreement passed by Congress on January 1 won’t lower the country’s deficit enough to avoid a rating downgrade on the US’s debt.. Moody’s, which has assigned its Aaa ranking for the U.S., has a negative outlook on the world’s biggest economy. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.bloomberg.com/news/2013-01-03/u-s-stock-futures-decline-on-concern-over-budget-deficit.html | |||||||
| http://www.marketwatch.com/story/us-jobless-claims-rise-10000-to-372000-2013-01-03 | |||||||
| http://www.marketwatch.com/story/retailers-start-new-year-on-a-jittery-note-2013-01-03?dist=lcountdown | |||||||
| http://www.bloomberg.com/news/2013-01-03/u-s-stock-futures-decline-on-concern-over-budget-deficit.html | |||||||
| For today’s Market Update Report click to listen-> | https://beaconrwa.com/audio/Market-Update-Report.mp3 | ||||||