Market Update Report 3/7/2018

The KUIK Market Update for Wednesday, March 7:

Markets are down but up from their lows.

Index

Direction

Change

Units

Index

Time

Change

Dow Jones Industrial Average

Down

                  (124)

points

          24,760

8:12 AM

S&P500

Down

-0.3%

percent

            2,719

Nasdaq Composite

Down

0.0%

percent

            7,370

     (2.00)

30 Year Treasury

Up

                      1

Basis Points

              3.14

Annual Yield

ADP reports private-sector employment stayed strong in February, as employers added 235,000 jobs. Economists expected 205,000, compared with the initial January gain of 234,000 which was revised upward by 10,000. February is the fourth month in a row where job gains were 200,000 or higher.

Democratic leaders plan to announce a $1 trillion infrastructure plan today that would be paid for by rolling back the recently passed Republican tax overhaul. It’s unlikely to pass muster with President Trump, according to the Washington Post, but it would include $140 billion for roads and bridges, $115 billion for water and sewer infrastructure and $50 billion to rebuild schools. The Post says the spending would be offset by clawing back two-thirds of the revenue lost in the GOP tax bill by reinstating a top income tax rate of 39.6%, restoring the individual alternative minimum tax, reversing cuts to the estate tax and raising the corporate income tax from 21% to 25%.

Serving the West Side first, I am Bill Roller of brcapitalinc.com for 1360 KUIK.

www.marketwatch.com/story/labor-market-red-hot-as-adp-says-235000-private-sector-jobs-added-in-february-2018-03-07#false

www.marketwatch.com/story/white-house-aides-fear-more-policy-chaos-after-cohn-quits-democrats-seek-to-reverse-republican-tax-cuts-to-fund-infrastructure-2018-03-07#false

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