| The KUIK Market Update for Friday, March 6: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (123) | points | 18,012 | 8:02 AM | ||
| S&P500 | Down | -0.6% | percent | 2,090 | (11.46) | ||
| Nasdaq Composite | Down | -0.2% | percent | 4,972 | (11.02) | ||
| 30 Year Treasury | Up | 12 | Basis Points | 2.84 | Annual Yield | ||
| The Labor Department reports the US created 295,000 new jobs in February, up from a revised 239,000 in January. The unemployment rate fell to 5.5% from 5.7%, for the lowest level since May 2008. Hourly wages rose 3 cents $24.78. Over the past year wages have risen only 2%. More people stopped looking for work last month, dropping the labor force participation rate to 62.8% lowest level since the 1970s. | |||||||
| The Treasury Department will take extraordinary actions next week to stay under the debt ceiling. In a letter to Speaker John Boehner, Treasury Secretary JacobLew said the department will suspend sales of state and local government series securities, known as slugs, next Friday. Under legislation passed last year, the outstanding debt of the U.S. will be at the statutory limit on Monday, March 16 without Congressional action. Lew asked Congress to raise the debt limit as soon as possible. Earlier this week, the Congressional Budget Office said Treasury will be able to avoid default until October or November if the ceiling isn’t raised. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/economy-gains-295000-jobs-in-february-2015-03-06 | |||||||
| http://www.marketwatch.com/story/lew-treasury-will-take-extraordinary-actions-ahead-of-hitting-debt-limit-2015-03-06 | |||||||
| For today’s Market Update Report click to listen-> | |||||||