| The KUIK Market Update for Friday, April 5: | |||||||
| Markets opened down but are now off their lows. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (120) | points | 14,486 | 8:02 AM | ||
| S&P500 | Down | -0.92% | percent | 1,546 | (14.35) | points | |
| Nasdaq Composite | Down | -1.14% | percent | 3,188 | (36.89) | points | |
| 30 Year Treasury | Down | (14) | Basis Points | 2.85 | Annual Yield | ||
| The Labor Department is what’s hurting the stock market. The U.S. added only a seasonally adjusted 88,000 jobs last month, which is the smallest increase since June. Economists polled by MarketWatch forecast 190,000 new jobs. The unemployment rate fell to 7.6% from 7.7%, the lowest level since December 2007, but that’s because half a million people stopped looking for work. | |||||||
| Strong domestic production of oil and natural gas pushed the trade deficit down in February according to the Commerce Department. The nation’s trade deficit narrowed 3.4% in February to $43.0 billion from $44.5 billion in January, as the U.S. imported the lowest amount of crude oil in 16 years. | |||||||
| President Obama’s proposed budget is expected next Wednesday. It will feature cuts to Social Security and Medicare, and include backing for “chained CPI,” that lowers cost of living increases according to a New York Times report. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-jobs-gain-in-march-lowest-in-10-months-2013-04-05 | |||||||
| http://www.marketwatch.com/story/gold-jumps-oil-prices-fall-on-poor-jobs-data-2013-04-05 | |||||||
| http://blogs.marketwatch.com/encore/2013/04/05/obama-budget-to-include-entitlement-cuts-report/ | |||||||
| For today’s Market Update Report click to listen-> | |||||||