The KUIK Morning Market Report for Thursday, March 3:
Markets are down.
Index Direction Change Units Time
Dow Down (40) points 16,859 6:00 PM
S&P500 Down -0.3% percent 1,981
Nasdaq Composite Down -0.2% percent 4,693
30 Year Treasury Down (1) Basis Points 2.68 Annual Yield
The Labor Department reports new applications for unemployment benefits rose by 6,000 to 278,000 in the week ended February 27. Economists expected 270,000. Continuing claims increased by 3,000 to 2.26 million in the week ended February 20. The February employment report will be release tomorrow. Economists expect it to show the U.S. created 198,000 new jobs last month, up from 151,000 in January.
The productivity of U.S. businesses fell at a 2.2% annual pace in the fourth quarter, better than the previously estimated negative 3%. For all of 2015, U.S. productivity rose at 0.7%, just one-third as fast as the post-World War II average. Weak productivity growth has been a staple of that recovery that began in mid-2009 and a sign the economy isn’t performing at its capacity.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/jobless-claims-climb-6000-to-278000-2016-03-03
http://www.marketwatch.com/story/us-productivity-revised-to-show-smaller-22-drop-in-fourth-quarter-2016-03-03
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