Market Update Report 5/3/2013 | Beacon Rock Wealth Advisors

The KUIK Market Update for Friday, May 3:

Markets are up strongly this morning.

Index	Direction	Change	Units	Last	Time	Change
Dow	Up	169	points	15,001	7:58 AM
S&P500	Up	1.23%	percent	1,617		19.68	points
Nasdaq Composite	Up	1.32%	percent	3,385		44.18	points
30 Year Treasury	Up	11	Basis Points	2.93	Annual Yield

The Labor Department reports the nation created 165,000 jobs in April, more than the 135,000 forecast by economists polled by MarketWatch. The number of new jobs created in March was revised up to 138,000 from 88,000, and February’s figure was revised up to 332,000 from 268,000.

The Commerce Department reports factory orders fell 4% in March, which was weaker than expected. Economists polled by MarketWatch forecast a 2.8% drop. Orders for durable goods were revised to a 5.8% decline from the prior estimate of a 5.7% drop. New orders for nondurable goods decreased 2.4%. Shipments fell 1.0%, while inventories were flat.

The Institute for Supply Management’s services index weakened to 53.1% from 54.4% in March, and below the 53.7% expected. Business activity, new orders, employment and prices indexes all dropped during the month but stayed above the 50% mark indicating expansion.



Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.

http://www.marketwatch.com/story/us-economy-creates-165000-jobs-in-april-2013-05-03
http://www.marketwatch.com/story/us-factory-orders-down-40-in-march-2013-05-03
http://www.marketwatch.com/story/ism-services-index-slows-in-april-2013-05-03


For today’s Market Update Report click to listen->