The KUIK Market Update for Wednesday, March 2:
Markets are mixed after yesterday’s big up day.
Index Direction Change Units Time
Dow Down (26) points 16,839 6:00 PM
S&P500 Down -0.1% percent 1,977
Nasdaq Composite Up 0.1% percent 4,693
30 Year Treasury Unchanged – Basis Points 2.70 Annual Yield
ADP reports that the private sector added 214,000 jobs in February, up from January’s revised gain of 193,000. Economists expected only 185,000. The Labor Department’s employment report will be released Friday and includes both government and private sector jobs. Economists expect that report to show that nonfarm payrolls rose by 198,000 in February, compared 151,000 in January.
Monsanto shares are down 5.5% after the agricultural products company cut its full-year profit outlook, citing a deteriorating macro environment. Shares of Chesapeake Energy are up slightly after the energy company’s former chief executive officer Aubrey McClendon, was indicted yesterday on charges of conspiring to rig bids for the purchase of oil and natural gas leases.
April crude is off 0.8% to $34.34 a barrel on the New York Merc on a larger than expected build in crude inventory.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/adp-shows-job-gains-accelerate-in-february-2016-03-02
http://www.marketwatch.com/story/us-stocks-show-signs-of-struggle-as-oil-prices-pull-back-2016-03-02
http://www.marketwatch.com/story/us-stocks-show-signs-of-struggle-as-oil-prices-pull-back-2016-03-02
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