The KUIK Morning Market Report for Wednesday, February 1:
Markets are up.
Index
Direction
Change
Units
Time
Dow
Up
65
points
19,934
7:11 AM
S&P500
Up
0.2%
percent
2,282
Nasdaq Composite
Up
0.4%
percent
5,639
30 Year Treasury
Up
3
Basis Points
3.08
Annual Yield
ADP reports private-sector hiring picked up in January, as employers added 246,000 jobs, well above expectations. Economists expected only 168,000, compared with December’s 153,000. It was the fastest pace of job growth since June. Manufacturing added 15,000 jobs, the most since December 2014. 201,000 were added in the service sector and 46,000 for goods producers. The Labor Department issues its jobs report on Friday. Economists expects it to show 190,000 nonfarm jobs added in January compared to December’s 156,000
The Senate Finance Committee advanced the nominations of Steven Mnuchin, President Trump’s nominee for treasury secretary, and Tom Price, his pick for health and human services, on Wednesday. The vote in committee came after Democrats boycotted a vote in protest, but Republicans then changed the rules for Democrats’ absence not to matter. The two nominees must now be confirmed by the full Senate.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
