The KUIK Morning Market Report for Wednesday, November 30:
Markets are mixed.
Index
Direction
Change
Units
Time
Dow
Up
77
points
19,202
6:58 AM
S&P500
Up
0.3%
percent
2,210
Nasdaq Composite
Down
-0.1%
percent
5,376
30 Year Treasury
Up
11
Basis Points
3.06
Annual Yield
ADP reports that 216,000 net new private sector jobs jobs were added in November. Economists expected only 160,000. October original gain 147,000 was revised down to 119,000. Small businesses added 37,000 jobs, medium businesses added 89,000, and large businesses hired 90,000. The gains were concentrated in services: goods-producing categories like mining and manufacturing were negative. Employers in the professional/business services categories added 68,000 jobs and education/health services gained 43,000.
The Commerce Department reports consumer spending rose 0.3% in October, up from a revised 0.7% rise in September. Economists expected a 0.5% increase. Personal incomes rose 0.6%, the fastest growth since April, and up from a revised 0.4% gain in September. Inflation continues to push closer to the Federal Reserve’s 2% target. The personal consumption expenditures index rose 1.4% annually, the highest rate in two years.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
