Market Update Report 9/5/2013 | Beacon Rock Wealth Advisors

The KUIK Market Update for Thursday, September 5:

Markets are flat.

Index	Direction	Change	Units	Last	Time	Change
Dow	Up	2	points	14,933	8:05 AM
S&P500	Up	0.13%	percent	1,655		2.12
Nasdaq Composite	Up	0.17%	percent	3,655		6.20
30 Year Treasury	Up	6	Basis Points	3.86	Annual Yield

The number of Americans applying for new unemployment benefits dropped by 9,000 to 323,000 in the week ended Aug. 31, keeping initial claims near a five-and-a-half year low. Economists expected a seasonably adjusted drop to 330,000.

The U.S. service-sector expanded in August at the fastest pace on record, according to a survey of executives by the Institute for Supply Management. The Institute said its survey climbed to 58.6% last month from 56.0% in July. That’s the highest level since the index was created in 2008 and probably the best performance since 2005. Economists surveyed by MarketWatch expected a drop to 55.0%. Above 50% indicate more companies are expanding instead of shrinking. Sixteen industries tracked reported growth last month and two recorded a decline. The new-orders index increased to 60.5% from 57.7% and production climbed to 62.2% from 60.4%.Employment increased 3.8 points to 57.0%, the highest figure since February

The Commerce Department reported factory orders decreased 2.4% in July to a seasonally adjusted $485 billion. Economists expected a drop to 3.5%. New orders for durable goods fell 7.4%, led by transportation equipment,.



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

http://www.marketwatch.com/story/us-weekly-jobless-claims-drop-9000-to-323000-2013-09-05
http://www.marketwatch.com/story/august-ism-services-index-jumps-to-record-high-2013-09-05
http://www.marketwatch.com/story/factory-orders-fall-24-in-july-2013-09-05


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