The KUIK Market Update for Friday, January 8:
Markets are up.
Index Direction Change Units Time
Dow Up 12 points 16,526 8:32 AM
S&P500 Down -0.3% percent 1,937
Nasdaq Composite Down -0.3% percent 4,674
30 Year Treasury Unchanged – Basis Points 2.93 Annual Yield
The Labor Department reports the US added 292,000 new jobs in December. Economists expected only 215,000 and October and November were revised upward. The unemployment rate was unchanged at 5%. Hourly wages fell by one cent $25.24, for the first decline in a year. But wages are 2.5% in the past 12 months, matching a six-and-a-half-year high.
Barclays cut its estimate of U.S. fourth-quarter gross domestic product to an 0.7% annual rate from 1.1% after November wholesale trade data fell more than expected. The Commerce Department reported inventories fell 0.3% in November, and revised down October’s inventory decline to 0.3% from 0.1%. Barclays said the change in private inventories likely subtracted 0.9 percentage points from fourth-quarter growth. The U.S. economy grew at a 2% rate in the third quarter.
Oil gave up early gains and is now negative. February crude is off 0.9% to $32.98 a barrel on the New York Merc
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/us-scores-big-with-292000-new-jobs-in-december-2016-01-08
http://www.marketwatch.com/story/barclays-trims-us-q4-gdp-estimate-to-07-after-inventory-data-2016-01-08?link=MW_home_latest_news
http://www.marketwatch.com/story/us-stock-futures-dow-eyes-triple-digit-gain-after-china-ends-higher-2016-01-08?dist=markets
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