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The KUIK Market Update for Friday, February 2: |
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Markets are down. |
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Index |
Direction |
Change |
Units |
Index |
Time |
Change |
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Dow Jones Industrial Average |
Down |
(320) |
points |
25,867 |
8:26 AM |
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S&P500 |
Down |
-1.0% |
percent |
2,794 |
(1.99) |
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Nasdaq Composite |
Down |
-0.9% |
percent |
7,318 |
(2.34) |
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30 Year Treasury |
Up |
7 |
Basis Points |
3.08 |
Annual Yield |
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The Labor Department reports the US created 200,000 new jobs in January. Economists expected only 190,000 new nonfarm jobs. The unemployment rate stayed at a 17-year low of 4.1%. The big news is rising worker pay. Average hourly wages jumped 9 cents, or 0.3%, to $26.74. That pushed the yearly increase to 2.9% from 2.6%, hitting the highest level since June 2009. |
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Oil is down with March crude down 1.7% to $64.69 a barrel and energy stocks are what hurting the Dow. U.S. oil production, driven by shale extraction, passed 10 million barrels a day in November for the first time since 1970, according to data released Thursday by the Energy Information Administration, raising concerns the market is awash in crude. |
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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-200000-jobs-worker-pay-rises-at-fastest-pace-since-2009-2018-02-02 |
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www.marketwatch.com/story/oil-market-pauses-advance-as-us-output-crosses-milestone-2018-02-02 |
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For today’s Market Update Report click to listen-> |
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