| The KUIK Market Update for Friday, November 7: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (7) | points | 17,547 | 7:58 AM | ||
| S&P500 | Up | 0.0% | percent | 2,032 | 0.74 | ||
| Nasdaq Composite | Down | -0.3% | percent | 4,624 | (14.42) | ||
| 30 Year Treasury | Down | (4) | Basis Points | 3.06 | Annual Yield | ||
| The Labor Department reports the U.S. created 214,000 new jobs in October. That pushed down the unemployment rate down to a six-year low of 5.8%. But that was was below Wall Street expectations. Economists polled by MarketWatch expected 243,000 new jobs. The good news is that it is the ninth straight month that the economy has added 200,000 jobs or more, which last happened in 1994. The U.S. has created almost 2.3 million jobs this year and is on track for the biggest gain in almost a decade, and job openings hit a 13-year high. | |||||||
| The Bureau of Labor Statistics reports that the share of 25 to 34 year olds who have jobs hit 76.2% in October. That’s the largest proportion since the end of 2008 and up from 74.8% a year ago. That could be good news for the housing market. They have not been major buyers in recent years, so there’s hope that this group will ramp up their home buying. | |||||||
| In a speech in Paris today, Federal Reserve Chairman Janet Yellen said monetary policy will have to normalize, and that it may lead to financial turbulence. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-gains-214000-jobs-in-october-unemployment-drops-to-58-2014-11-07 | |||||||
| http://www.marketwatch.com/story/housing-hope-in-jobs-report-young-peoples-employment-rate-at-6-year-high-2014-11-07 | |||||||
| http://www.marketwatch.com/story/yellen-monetary-policy-will-eventually-need-to-normalize-2014-11-07?mod=MW_story_latest_news | |||||||
| For today’s Market Update Report click to listen-> | |||||||