The KUIK Morning Market Report for Thursday, April 6:
Markets are up.
Index
Direction
Change
Units
Time
Dow
up
20
points
20,655
8:12 PM
S&P500
unchanged
0.0%
percent
2,355
Nasdaq Composite
up
0.2%
percent
5,874
30 Year Treasury
down
(1)
Basis Points
2.98
Annual Yield
Employers added 263,000 private sector jobs last month, following an increase of 245,000 in February. The increase in March exceeded economists expectations.“The gains are broad based but most notable in the goods producing side of the economy including construction, manufacturing and mining,” said Mark Zandi, chief economist at Moody’s Analytics.
The U.S. trade deficit sank in February to $43.6 billion, just a month after hitting a five-year high. The February decline stemmed mainly from a temporary reduction in imports from China that occurs every year due to the prolonged lunar new year holiday. In January, the trade deficit surged as Chinese importers rushed to ship their goods off to the U.S. before they shut down for the two-week holiday season. The 2017 the U.S. trade gap with China is on track to top $300 billion for the fourth straight year. The U.S. trade deficit totaled $501 billion in 2016 and China accounted for about 62% of the overall gap. By contrast, China accounted for just about one-fifth of the U.S. trade deficit at the turn of the century.
Serving the West Side first, I am Mike Elerath of BR Capital for 1360 KUIK.
