Market Update Report 3/5/2014

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
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