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The KUIK Morning Market Report 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 |
(315) |
points |
25,867 |
7:15 AM |
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S&P500 |
Down |
-1.1% |
percent |
2,790 |
(1.99) |
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Nasdaq Composite |
Down |
-1.3% |
percent |
1,566 |
(2.34) |
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30 Year Treasury |
Up |
6 |
Basis Points |
3.06 |
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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The Federal Reserve on Thursday released the stress test it will use on the nation’s biggest banks: a deep recession that would crush the stock and housing markets and throw millions out of work. The Fed said 18 of the largest and most complex firms will be subject to both a quantitative evaluation of their capital adequacy and a qualitative evaluation of their capital planning. For the first time, five foreign firms with U.S. operations will also be tested. Another 20 will just get the quantitative test. Firms with significant trading activity will be required to include a global market shock as well. |
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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/fed-says-its-stress-testing-banks-using-deeper-recession-2018-02-01 |
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For today’s Morning Market Report click to listen-> |
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