| The KUIK Market Update for Friday, November 6: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (40) | points | 17,824 | 8:05 AM | ||
| S&P500 | Down | -0.4% | percent | 2,091 | (9.03) | ||
| Nasdaq Composite | Down | 0.0% | percent | 5,127 | (0.84) | ||
| 30 Year Treasury | Up | 8 | Basis Points | 3.09 | Annual Yield | ||
| The Commerce Department reports 271,000 new jobs were added in October, and all but 3,000 were in the private sector. Economists expected only 180,000 new jobs. Almost every major industry boosted payrolls and it is the fastest pace of 2015. The unemployment rate fell to 5% from 5.1%, for the lowest level since April 2008. The labor force participation however was unchanged at 62.4, a 42-year low. That strong report raises the chance of a hike in interest rates in December. | |||||||
| The Securities and Exchange Commission filed charges in U.S. District Court yesterday against James Alan Craig of Dunragit, Scotland. He is charged with securities fraud for tweeting multiple false statements on January 29 and 30 of 2013 about Audience and Sarepta Therapeutics. Audience’s shares fell 28% on tweets that said the Department of Justice was investigating Audience. Trading was halted before the fraud was revealed and the company’s stock price recovered. Sarepta’s stock fell 16% on reports that the Food and Drug Administration had seized the company’s drug trial papers and results were tainted. The shares recovered when the fraud was exposed. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-creates-271000-jobs-in-october-as-labor-market-heats-back-up-2015-11-06 | |||||||
| http://www.marketwatch.com/story/false-tweets-now-on-secs-fraud-radar-2015-11-06 | |||||||
| For today’s Market Update Report click to listen-> | |||||||