The KUIK Morning Market Report for Friday, March 4:
Markets are down.
Index Direction Change Units Time
Dow Down (21) points 16,922 6:00 PM
S&P500 Down -0.3% percent 1,988
Nasdaq Composite Down -0.3% percent 4,692
30 Year Treasury Up 2 Basis Points 2.68 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.
U.S. exports fell in January for the fourth month in a row and hit the lowest level since mid-2011. That added to a 2.2% increase in the nation’s trade deficit. The trade gap rose to a seasonally adjusted $45.7 billion in January from a revised $44.7 billion in February. Oil imports fell to the lowest level since 2003, while imports of cars and parts set a record.
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/us-exports-fall-to-lowest-level-since-mid-2011-2016-03-04
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