Market Update Report 1/10/2014 | Beacon Rock Wealth Advisors

The KUIK Market Update for Friday, January 10:

Markets are down.

Index	Direction	Change	Units	Last	Time	Change
Dow	Down	(35)	points	16,410	7:55 AM
S&P500	Down	-0.11%	percent	1,836		(2.02)
Nasdaq Composite	Up	0.01%	percent	4,157		0.36
30 Year Treasury	Down	(5)	Basis Points	3.83	Annual Yield

The Labor Department reported a disappointing jobs number. The U.S. added just 74,000 jobs in December to mark the smallest increase since the start of 2011. The unemployment rate fell to 6.7% from 7.0% to mark the lowest level since October 2008 but workforce participation dropped to 62.8 matching Ocober and is the lowest rate since 1978. 347,000 Americans stopped looking for work in December. Economists expected 193,000 new nonfarm jobs, and unemployment steady at 7.0% in December.



President Obama plans to nominate Stanley Fischer, the former head of the Bank of Israel, and Lael Brainard, a former top Treasury Department official, to the Federal Reserve Board of Governors, according to a statement from the White House. He will also re-nominate Jerome Powell to another term. Fischer is a veteran central banker who worked closely with U.S. officials during the Asian financial crisis when he was the No. 2 at the International Monetary Fund. Fischer will be nominated to be Fed vice-chairman. Brainard was Treasury undersecretary for international affairs during the first five years of the Obama administration. Powell is a former investment banker who joined the central bank in May 2012. He served at Treasury under the first President Bush.



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

http://www.marketwatch.com/story/us-posts-smallest-gain-in-jobs-in-3-years-2014-01-10?dist=beforebell

http://www.marketwatch.com/story/oil-bounces-back-on-china-data-weaker-dollar-2014-01-10?dist=markets


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