The KUIK Morning Market Report for Friday, June 2:
Markets are up a little.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
11
points
21,155
7:17 AM
S&P500
Up
0.0%
percent
2,430
0.35
Nasdaq Composite
Up
0.4%
percent
6,269
21.89
30 Year Treasury
Down
(4)
Basis Points
2.83
Annual Yield
Instead of rip-roaring the jobs report was rip-snoring. The Labor Department reports 138,000 new jobs were created in May. Economists expected 185,000. The unemployment rate fell 4.3% from 4.4% and touched the lowest level since 2001. The decline was more due to people leaving the work force rather than finding jobs. Average hourly pay rose 0.2% to $26.22. Over the past 12 months it’s s increased 2.5%.
The Commerce Department reports the trade deficit rose 5.2% in April. The U.S. is on track to post a bigger gap in 2017 than in 2016. The deficit climbed to $47.6 billion in April from a revised $45.3 billion in March. Economists expected $46.5 billion. Exports fell 0.3% to $191 billion, largely due to declines in autos, networking equipment, and consumer goods such as pharmaceuticals. Imports rose 0.8% to $238.6 billion. The U.S. saw a flood of cellphone imports as makers such as Samsung put out new models.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
