The KUIK Market Update for Friday, March 4:
Markets are mixed.
Index Direction Change Units Time
Dow Up 2 points 16,946 6:00 PM
S&P500 Up 0.1% percent 1,994
Nasdaq Composite Down -0.1% percent 4,705
30 Year Treasury Up 4 Basis Points 2.70 Annual Yield
The Labor Department reports the US added 242,000 new jobs in February. Economists expected only 195,000 new non-farm jobs. The unemployment rate held steady at 4.9% as more than half a million people joined the labor force. The labor-force participation rate moved up to 62.9%. The bulk of the new jobs created were concentrated in fields such as retail and hospitality. Manufacturers and energy companies eliminated more higher-paying jobs as they cope with falling exports and cheaper oil prices. As a result, the average wage fell slightly to $25.35 an hour.
April gold is up 1.4%, at $1,276.30 an ounce, looking for 4.5% gain for the week. Silver is also up 3.3% to $15.66 an ounce on the Comex. Gold is up more than 20% so far in 2016.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/us-gains-242000-jobs-in-february-2016-03-04
http://www.marketwatch.com/story/gold-carves-out-13-month-high-ahead-of-us-jobs-report-2016-03-04?dist=markets
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