| The KUIK Market Update for Wednesday, October 2: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (101) | points | 15,091 | 7:58 AM | ||
| S&P500 | Down | -0.60% | percent | 1,685 | (10.12) | ||
| Nasdaq Composite | Down | -0.37% | percent | 3,804 | (14.20) | ||
| 30 Year Treasury | Down | (4) | Basis Points | 3.68 | Annual Yield | ||
| Treasury Secretary Jacob Lew said yesterday in a letter to Congressional leaders that the goverment’s extraordinary measures to stay below the $16.7 trillion debt limit will expire on Oct. 17. The Treasury will have about $30 billion in cash on hand on that date, and risks not being able to pay its bills. | |||||||
| ADP reported that private-sector employment picked up only slightly in September, as employers added 166,000 jobs, missing estimates. Economists expected 180,000. Job growth is softening. Over the three months through September, the economy added an average of 162,000 private jobs per month, down from 220,000 at the start of the year. | |||||||
| Oil futures climbed on from the U.S. Energy Information Administration showing a rise in crude and gasoline stockpiles along with a decline in distillate supplies. The EIA reported that crude stockpiles for the week ended Sept. 27 rose 5.5 million barrels, and analysts expected a climb of 2.4 million barrels. Gasoline supplies rose 3.5 million barrels, and stockpiles were expected to fall 1.4 million barrels. November crude is up .9% to $102.96 a barrel on the New York Merc. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/lew-reiterates-oct-17-is-debt-limit-deadline-2013-10-01 | |||||||
| http://www.marketwatch.com/story/private-sector-job-gains-pick-up-slightly-2013-10-02 | |||||||
| http://www.marketwatch.com/story/crude-supplies-rise-55-million-barrels-eia-2013-10-02?dist=markets | |||||||
| For today’s Market Update Report click to listen-> | |||||||