| The KUIK Market Update for Wednesday, February 4: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 20 | points | 17,686 | 8:00 AM | ||
| S&P500 | Down | -0.2% | percent | 2,045 | (4.58) | ||
| Nasdaq Composite | Down | -0.4% | percent | 4,711 | (17.12) | ||
| 30 Year Treasury | Up | 4 | Basis Points | 2.42 | Annual Yield | ||
| Gains in private-sector employment decelerated in January as employers added 213,000 jobs, according to ADP. ADP revised December’s gain to 253,000 up from a prior estimate of 241,000. | |||||||
| The People’s Bank of China today cut its reserve-requirement ratio for banks by 0.5%, to boost lending to businesses and bolster the economy. The central bank said the ratio for most banks will fall to 19.5% after the cut takes effect. Metals rose after the news, with April gold trading $7.90 higher at $1,268.20 an ounce. | |||||||
| Companies in the U.S. service sector such as retail and financial services grew at a slightly faster pace in January but they also scaled back hiring, according to survey of senior executives. The Institute for Supply Management said its nonmanufacturing index edged up to 56.7% from 56.5% in December. Readings over 50% signal that more businesses are expanding instead of contracting. Three months ago the index hit a nine-year high. The new orders index rose slightly, but the employment gauge fell to its lowest level in 11 months. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/private-sector-adds-213000-jobs-in-january-adp-2015-02-04 | |||||||
| http://www.marketwatch.com/story/chinas-central-bank-cuts-reserve-ratio-for-banks-2015-02-04 | |||||||
| http://www.marketwatch.com/story/us-service-firms-grow-faster-in-january-but-scale-back-employment-ism-2015-02-04 | |||||||
| For today’s Market Update Report click to listen-> | |||||||