The KUIK Morning Market Report for Wednesday, February 3:
Markets are mixed.
Index Direction Change Units Time
Dow Up 68 points 16,222 6:45 AM
S&P500 Up 0.2% percent 1,906
Nasdaq Composite Down 0.0% percent 4,516
30 Year Treasury Up 1 Basis Points 2.69 Annual Yield
ADP reports private-sector employers added 205,000 jobs in January. December’s gain was revised upward to 267,000 from 257,000. The Labor Department’s employment report will be released Friday and covers both government and private sector jobs. Economists expect that report to show that nonfarm payroll rose by 180,000 jobs last month, down from 292,000 in December.
The American Petroleum Institute reported yesterday that U.S. crude stockpiles grew by 3.8 million barrels last week. The official data will be released by the Energy Information Administration later otoday and analysts surveyed by The Wall Street Journal predict an increase of 3.5 million barrels. March crude is up almost 3% to $30.77 a barrel.
In overseas markets Japan’s Nikkei fell 3.15% 17,191 on weak corporate earnings and the Stoxx Europe 600 fell slightly to 334.28, its third straight losing session.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/private-sector-adds-205000-jobs-in-january-adp-2016-02-03-8912045
http://www.marketwatch.com/story/crude-prices-stuck-under-30-as-market-braces-for-stockpile-surge-2016-02-03
http://www.marketwatch.com/story/european-stocks-tilt-lower-as-focus-turns-to-us-jobs-figures-2016-02-03
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