The KUIK Morning Market Report for Wednesday, January 6:
Markets are down.
Index Direction Change Units Time
Dow Down (227) points 16,932 7:13 AM
S&P500 Down -1.3% percent 1,991
Nasdaq Composite Down -1.2% percent 4,832
30 Year Treasury Down (6) Basis Points 2.95 Annual Yield
ADP reports that private employers added 257,000 jobs in December for the strongest gain since 2014. November’s gain was revised down to 211,000 from 217,000. Mark Zandi, chief economist of Moody’s Analytics, said “the only industry shedding jobs is energy and if this pace of job growth is sustained the economy will be back to full employment by mid-year.”
The nation’s trade deficit fell 5% in November to the smallest amount in a year. Exports fell slightly, hitting the lowest level since the start of 2012, but imports fell even faster. The trade gap fell to a seasonally adjusted $42.4 billion from $44.6 billion in October. Economists expected $43.8 billion.
The minutes from December’s Federal Reserve meeting in which the central bank raised interest rates are due out today at 11 am Pacific time.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/private-sector-adds-257000-jobs-in-december-adp-2016-01-06-81032130′
http://www.marketwatch.com/story/us-exports-fall-to-lowest-level-since-early-2012-2016-01-06
http://www.marketwatch.com/story/what-time-do-the-fed-minutes-come-out-2016-01-06
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