| The KUIK Market Update for Friday, October 3: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 135 | points | 16,936 | 8:05 AM | ||
| S&P500 | Up | 0.9% | percent | 1,964 | 17.40 | ||
| Nasdaq Composite | Up | 1.2% | percent | 4,482 | 51.74 | ||
| 30 Year Treasury | Up | 0 | Basis Points | 3.15 | Annual Yield | ||
| The Labor Department reports the US added 248,000 non farm jobs in September, above economists estimate of 220,000. Gains in hiring along with people dropping out of the labor force, pushed the unemployment rate down to 5.9% from 6.1% for a six-year low. The last time the jobless rate was below 6% was in 2008. However the labor force participation rate fell a tenth to 62.7%, the lowest level since February 1978. | |||||||
| The Institute for Supply Management said its gauge of nonmanufacturing service company fell to 58.6% in September down from 59.6% in August, line with expectations. Readings over 50% indicate expansion. Of the 18 industries tracked , 12 were up, five down, and one was flat. New orders showed slower growth, business activity fell, but employment increased. | |||||||
| Marketwatch reports analysts at Citigroup said in a note yesterday there’s a higher probability that oil prices will fall than rise in the near future. Risk of lower demand from China, reduced global growth expectations, and a dollar that is appreciating more rapidly than expected are creating headwinds for major commodity prices. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/unemployment-falls-below-6-for-first-time-since-2008-as-us-adds-248000-jobs-2014-10-03 | |||||||
| http://www.marketwatch.com/story/ism-services-index-falls-to-586-in-september-2014-10-03-10911744 | |||||||
| http://www.marketwatch.com/story/oil-futures-attempt-to-rebound-from-string-of-sharp-losses-2014-10-03?dist=markets | |||||||
| For today’s Market Update Report click to listen-> | |||||||