| The KUIK Market Update for Wednesday, June 4: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (24) | points | 16,699 | 7:53 AM | ||
| S&P500 | Down | 0.0% | percent | 1,924 | (0.01) | ||
| Nasdaq Composite | Up | 0.1% | percent | 4,240 | 5.91 | ||
| 30 Year Treasury | Up | 1 | Basis Points | 3.44 | Annual Yield | ||
| ADP reports private sector employers added just 179,000 jobs in May — the fewest new positions since January — down from 215,000 in April. Economists polled by Dow Jones expected a May gain of 210,000, compared with an original estimate 220,000 jobs in April. | |||||||
| The Institute for Supply Management said its services index rose to 56.3%, its highest level since August, from 55.2% in April. The gain was above expectations. Economists expected 55.5% | |||||||
| The impact of $1.2 trillion in student loans on the economy and the relationship between loan servicers and borrowers is coming under scrutiny at two U.S. Senate hearings today. Education debt is increasing as students and parents depend on loans to fund rising education costs, but default rates are also increasing. Leaders in industries including housing and autos voice concern that debt erodes consumers’ ability to spend, according to advance testimony. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/private-sector-adds-fewest-jobs-in-four-months-2014-06-04 | |||||||
| http://www.marketwatch.com/story/ism-services-index-jumps-as-new-orders-rise-2014-06-04?link=MW_Nav_NV | |||||||
| http://www.bloomberg.com/news/2014-06-04/burden-of-growing-student-debt-focus-of-senate-hearings-today.html | |||||||
| For today’s Market Update Report click to listen-> | |||||||