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The KUIK Morning Market Report for Wednesday, January 31: |
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Markets are up. |
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Index |
Direction |
Change |
Units |
Index |
Time |
Change |
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Dow Jones Industrial Average |
Up |
197 |
points |
26,272 |
7:16 AM |
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S&P500 |
Up |
0.4% |
percent |
2,832 |
0.84 |
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Nasdaq Composite |
Up |
0.5% |
percent |
7,438 |
(0.46) |
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30 Year Treasury |
Down |
(2) |
Basis Points |
2.96 |
Annual Yield |
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Private-sector employment was strong for the second straight month in January, as employers added 234,000 jobs, according to payroll processor ADP. Economists expected 185,000 new private-sector jobs, compared with December’s estimate of 250,000. Small businesses added 58,000 jobs, medium-sized 91,000, and large 85,000. |
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The National Association of Realtors reports pending home sales rose 0.5% in December, matching expectations. It was the highest reading since March, even though the index stands just 0.5% higher than a year ago. It was the third month of increases for pendings, in which a contract has been signed, but the transaction hasn’t closed. |
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The Chicago Purchasing Managers Index fell 2.1 points to 65.7, according to MNI Indicators. Any reading over 50 indicates improving conditions, and the guage is down slightly from a nine-year high. The new-orders index fell to a five-month low. |
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For a free Social Security and Retirement Analysis go to brcapitalinc.com/kuik. Serving the West Side first, I am Bill Roller for 1360 KUIK. |
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www.marketwatch.com/story/us-adds-234000-private-sector-jobs-in-january-adp-says-2018-01-31 |
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www.marketwatch.com/story/chicago-pmi-slips-from-nine-year-high-2018-01-31 |
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For today’s Morning Market Report click to listen-> |
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