The KUIK Market Update for Wednesday, February 3:
Markets are mixed.
Index Direction Change Units Time
Dow Up 32 points 16,186 7:00 AM
S&P500 Down -0.2% percent 1,899
Nasdaq Composite Down -0.5% percent 4,495
30 Year Treasury Unchanged – Basis Points 2.68 Annual Yield
ADP reports private-sector employers added 205,000 jobs in January. December’s gain was revised upward to 267,000 from 257,000. 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 180,000 jobs last month, down from 292,000 in December.
China’s target for economic growth this year remains in a range of 6.5% to 7%, according to Xu Shaoshi, chairman of the National Development and Reform Commission. Growth in the world’s second-largest economy decelerated to 6.9% last year, its slowest in 25 years, and economists expect the slowdown to continue this year. He said the government will set a more precise target at its annual congress in March and that China is “not pursuing double-digit growth.”
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/private-sector-adds-205000-jobs-in-january-adp-2016-02-03-8912045
http://www.marketwatch.com/story/china-expects-2016-growth-to-stay-at-65-7-ndrc-2016-02-03
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