The KUIK Morning Market Report for Wednesday, October 4:
Markets are mixed.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
10
points
22,651
7:10 AM
S&P500
Down
0.0%
percent
2,534
(0.84)
Nasdaq Composite
Down
-0.1%
percent
6,528
(4.17)
30 Year Treasury
Unchanged
–
Basis Points
2.87
Annual Yield
ADP reports private-sector employment slowed in September as firms added 135,000 jobs. Economists expected 140,000 jobs. ADP initially reported 237,000 for August, revised downward to 228,000. The small-business sector lost jobs, while medium and large firms reported gains. The ADP data may be more important than usual this month as it is less affected by hurricanes than the government data. Workers are included in the ADP payroll numbers even if they are not paid due to bad weather.
Fed Chairman Janet Yellen will deliver the opening remarks at a conference on community banking at the St. Louis Fed around noon Pacific Time today. Friday’s release of nonfarm payrolls and unemployment data for September is in focus for traders, as the data’s expected to give further clues regarding the chances of a December interest rate increase by the Federal Reserve.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
