The KUIK Morning Market Report for Friday, November 4:
Markets are down.
Index
Direction
Change
Units
Time
Dow
Down
(23)
points
17,913
7:07 AM
S&P500
Up
0.0%
percent
2,089
Nasdaq Composite
Down
0.0%
percent
5,058
30 Year Treasury
Down
(3)
Basis Points
2.57
Annual Yield
The Labor Department reports the U.S. added 161,000 new jobs in October and the unemployment rate fell to 4.9% from 5% and remains near ann eight year low. Average hourly pay rose 0.4% to $25.92. Hourly wages have climbed 2.8% over the past year, the fastest 12-month increase since June 2009. The Labor Force Participation Rate fell to 62.8%, with 94 million Americans out of the labor force.
The Commerce Department reports the U.S. trade deficit fell 10% in September to a 19-month low, helped by a fourth month of increasing exports that gave the economy a boost in the third quarter. The nation’s trade gap fell to $36.4 billion from a revised $40.5 billion in August. Economists expected a seasonally adjusted $36.9 billion. Exports rose 0.6% to $189.2 billion and hit the highest level since the summer of 2015 despite a sharp pullback in shipments of soybeans. Soybean exports, fell back to $3.2 billion after topping $5 billion for two straight months. U.S. farmers benefited from weak harvests in South America.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
