February 4, 2015

Market Update Report 2/4/2015

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


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