The KUIK Morning Market Report for Friday, February 5:
Markets are down.
Index Direction Change Units Time
Dow Down (52) points 16,364 7:10 AM
S&P500 Down -0.7% percent 1,902
Nasdaq Composite Down -1.4% percent 4,449
30 Year Treasury Up 1 Basis Points 2.71 Annual Yield
The Labor Department reports the U.S. created 151,000 new jobs in January, slowing down a strong November and December. Economists expected 180,000 nonfarm jobs. The unemployment rate fell below 5% for the first time in eight years, dropping to 4.9%. Average hourly wages jumped 0.5% to $25.39, a sign that a tightening labor market is forcing companies to pay more to attract workers. Hourly pay rose 2.5% from January 2015. The average work week rose 0.1 to 34.6 hours, matching a postrecesion peak. The labor-force participation rate was flat at 62.7%.
The nation’s trade deficit rose 2.7% in December as exports fell, the first year since 2009 in which exports have fallen. The trade gap increased to a seasonally adjusted $43.4 billion from $42.2. That met with expectations. Exports fell 0.3% to $181.5 billion and fell 4.8% in 2015.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/us-creates-151000-jobs-in-january-unemployment-49-2016-02-05
http://www.marketwatch.com/story/us-exports-fall-in-2015-for-first-time-since-recession-2016-02-05
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