The KUIK Market Update for Saturday, January 0: |
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Markets are up. |
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Index |
Direction |
Change |
Units |
Last |
Time |
Change |
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Dow |
Up |
77 |
points |
15,671 |
7:59 AM |
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S&P500 |
Up |
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percent |
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Nasdaq Composite |
Up |
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percent |
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30 Year Treasury |
Up |
11 |
Basis Points |
3.83 |
Annual Yield |
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The Labor Department reports the U.S. economy added 204,000 jobs in October, double Wall Street’s forecast. The government shutdown was expected to put a damper on hiring. September and August were revised upward by a combined 60,000 jobs. The unemployment rate ticked up slightly to 7.3% from 7.2% probably because of the shutdown. Federal workers would have been classified as unemployed under the government’s method for calculating the unemployment rate. |
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That strong jobs reports puts the “Dectaper” back on the table and makes it possible that the Federal Reserve could begin reducing its $85 billion a month in bond purchases as early as December. |
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The preliminary November reading of the University of Michigan/Thomson Reuters consumer-sentiment index hit 72 – the lowest since December 2011 – from a final October reading of 73.2. Economists expected a rise to 75 in early November, partially offsetting an October drop due to the shutdown. |
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Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. |
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http://www.marketwatch.com/story/us-economy-adds-204000-jobs-in-october-2013-11-08 |
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http://www.marketwatch.com/story/consumer-sentiment-gauge-lowest-since-2011-2013-11-08?dist=lcountdown |
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For today’s Market Update Report click to listen-> |
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