The KUIK Morning Market Report for Thursday, July 6:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(122)
points
21,364
7:08 AM
S&P500
Down
-0.8%
percent
2,414
(18.48)
Nasdaq Composite
Down
-1.1%
percent
6,085
(65.65)
30 Year Treasury
Up
4
Basis Points
2.90
Annual Yield
The Labor Department reports initial claims for unemployment benefits last week rose by 4,000 to a seasonally adjusted 248,000. New applications for benefits have been under 300,000 for 122 straight weeks. The unemployment rate is down to a 16-year low of 4.3%. Continuing claims increased by 11,000 to 1,945,000 the week ended June 24. They’ve been under 2 million for 12 straight weeks.
ADP reports private sector hiring slowed in June. Employers added a seasonally adjusted 153,000 jobs during the month. Economists excpected 180,000. Small firms added 17,000 jobs, mid-sized firms added 91,000, and large companies added 50,000.
The Commerce Department reports the trade deficit fell 2.3% in May, largely because of fewer imports of cellphones and other consumer goods. The deficit fell to $46.5 billion in May from $47.6 billion in April. Economists expected $46.3 billion. Exports improved as the U.S. shipped $192 billion worth of goods and services to other countries, a 0.4% increase. Led by autos, exports hit their highest level in more than two years.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
