Morning Market Report 2/4/2015

The KUIK Morning Market Report for Wednesday, February 4:
Markets are mixed.
Index Direction Change Units Time Change
Dow Up                     17 points           17,684 7:07 AM
S&P500 Down -0.3% percent            2,045            (5.49)
Nasdaq Composite Down -0.4% percent            4,710           (17.80)
30 Year Treasury Up                       4 Basis Points              2.41 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 Labor Department’s January employment report will be released Friday and includes both government jobs and the private sector.
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. The Australian dollar  is seen as a China proxy, it rose against most other currencies after the move.
Oil is down after several big up days.  March crude is off 4.4%, to $50.71 a barrel on the New York Merc. The American Petroleum Institute reports crude oil supply for the week ended January  30 was up by 6.1 million barrels,  compared to a consensus forecast for a rise of just 2.8 million barrels, according to Platts.
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://stream.marketwatch.com/story/markets/SS-4-4/SS-4-76960/
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