The KUIK Market Update for Wednesday, March 5: |
|
Markets are mixed. |
|
Index |
Direction |
Change |
Units |
Last |
Time |
Change |
|
Dow |
Down |
(25) |
points |
16,370 |
8:06 AM |
|
|
S&P500 |
Up |
0.13% |
percent |
1,876 |
|
2.44 |
|
Nasdaq Composite |
Up |
0.14% |
percent |
4,358 |
|
6.29 |
|
30 Year Treasury |
Down |
(1) |
Basis Points |
3.63 |
Annual Yield |
|
|
|
Private-sector employers added 139,000 jobs last month, up from a revised 127,000 in January, but down from 205,000 in February 2013, according to ADP. Economists expected 160,000. The severe cold weather is blamed for the shortfall. |
|
U.S. service-sector companies expanded in February at a sharply slower pace and bad weather was only part of the problem. The Institute for Supply Management said its nonmanufacturing index dropped to 51.6% in February down from 54% in January. Economists expected 53. The employment gauge tumbled nearly 9 points to 47.5%, marking the lowest level since March 2010 as severe weather hindered hiring in some sectors such as construction and wholesale trade. New-orders edged up slightly, while production dropped. Ten of the industries tracked reported growth while eight recorded a decline. Readings over 50% indicate more companies are expanding instead of shrinking |
|
|
|
|
|
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. |
|
http://www.marketwatch.com/story/private-sector-hiring-remains-weak-hurt-by-weather-2014-03-05 |
http://www.marketwatch.com/story/ism-services-index-falls-to-516-in-february-2014-03-05-109196 |
|
|
|
For today’s Market Update Report click to listen-> |
|