| The KUIK Market Update for Wednesday, August 5: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 86 | points | 17,636 | 8:17 AM | ||
| S&P500 | Up | 0.8% | percent | 2,110 | 16.60 | ||
| Nasdaq Composite | Up | 1.3% | percent | 5,172 | 66.90 | ||
| 30 Year Treasury | Up | 6 | Basis Points | 2.95 | Annual Yield | ||
| Employers added 185,000 private sector jobs in July, according to ADP. June was revised down slightly to 229,000 from a prior estimate of 237,000. The Labor Department’s employment report will be released Friday and covers both government and private sector jobs. Economists expect that report to show that nonfarm payroll rose by a 215,000 jobs last month, down from 223,000 in June. | |||||||
| The Institute for Supply Management said its services index surged to 60.3% in July up from 56% in June for the highest reading since August of 2005. Readings above 50% indicate expansion. Economists expected 56.5%. Business activity, new orders, and employment were all up strongly. | |||||||
| The Energy Information Administration said U.S. oil inventories fell by 4.4 million barrels. Analysts surveyed by Platts had expected a 1.6 million drop. Oil futures gained following the release with September crude up 1.5% to 46.44 a barrel. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/private-sector-adds-jobs-at-slower-pace-in-july-adp-2015-08-05 | |||||||
| http://www.marketwatch.com/story/ism-services-index-surges-to-10-year-high-in-july-2015-08-05 | |||||||
| http://www.marketwatch.com/story/crude-oil-futures-extend-gains-after-drop-in-us-inventories-2015-08-05 | |||||||
| For today’s Market Update Report click to listen-> | |||||||