| The KUIK Market Update for Friday, February 1: | |||||||
| Markets are up on economic data. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 126 | points | 13,986 | 7:53 AM | ||
| S&P500 | Up | 0.7% | percent | 1,508 | 10.15 | points | |
| Nasdaq Composite | Up | 0.6% | percent | 3,160 | 18.14 | points | |
| 30 Year Treasury | Down | (1) | Basis Points | 3.16 | Annual Yield | ||
| The U.S. created 157,000 jobs in January and the unemployment rate ticked up to 7.9%, but the economy added 335,000 more jobs in 2012 than previously estimated, with a large chunk coming in the final months of the year. The latest employment figures, which include annual revisions based on business tax returns, show that hiring was stronger in 2012 and 2011 than initially believed. And job growth as sharply higher in the fourth quarter, according to new Labor Department data. | |||||||
| Consumer sentitment is up. Bloomberg reports the University of Michigan-Thomson Reuters consumer-sentiment inidex rose to final January reading of 73.8 from 72.9 in December. Economists expected 71. Higher payrolls taxes are weighing on consumers’ moods. | |||||||
| Marketwatch reports construction spending picked up at the end of last year, rising 0.9% to an annualized rate of $885 billion, according to the Commerce Department. For all of 2012, spending grew 9.2% as the housing market began its recovery. Residential construction grew 22.3% in 2012 while nonresidential construction grew at modest 1.2%. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-adds-157000-jobs-as-past-data-revised-higher-2013-02-01 | |||||||
| http://www.marketwatch.com/economy-politics?link=MW_Nav_EP | |||||||
| http://www.marketwatch.com/story/construction-spending-jumps-in-december-2013-02-01?dist=lcountdown | |||||||
| For today’s Morning Market Report click to listen-> | https://beaconrwa.com/audio/Market-Update-Report.mp3 | ||||||