| The KUIK Market Update for Friday, June 6: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 72 | points | 16,908 | 8:11 AM | ||
| S&P500 | Up | 0.5% | percent | 1,949 | 8.77 | ||
| Nasdaq Composite | Up | 0.6% | percent | 4,322 | 26.22 | ||
| 30 Year Treasury | Down | (1) | Basis Points | 3.42 | Annual Yield | ||
| The Labor Department reports the U.S. created 217,000 nonfarm jobs in May. Economists expected 210,000 jobs. . The unemployment rate is steady at 6.3% as more people reentered the labor market. The U.S. has now recovered the jobs lost after the 2007-2009 downturn, but it took more than six years to hit its prior peak of 138.25 million workers. Not since the Great Depression in the 1930s has it taken so long to recover all the jobs lost during a downturn. The labor-force participation rate, which is at a 36-year low, is unchanged at 62.8%. | |||||||
| Societe Generale raised its near-term gold forecast, but said it remains bearish over the medium to long term and recommends selling gold rallies. In a note yesterday, it raised its 2014 gold price forecast to $1,272 an ounce, attributing the increase to support from the Crimean crisis. August gold closed a $1,253.70 an ounce on the Comex . But SG says gold is likely to tradebelow $1,200 next year, and to break below $1,000 in 2016 when the Federal Reserve is “likely to hike rates at a much faster pace than currently discounted by the market.” | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-gains-217000-new-jobs-in-may-2014-06-06 | |||||||
| http://blogs.marketwatch.com/thetell/2014/06/05/societe-generale-sees-2017-2019-gold-price-average-of-825/ | |||||||
| For today’s Market Update Report click to listen-> | |||||||