The KUIK Morning Market Report for Friday, July 7:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
56
points
21,376
7:07 AM
S&P500
Up
0.3%
percent
2,417
7.09
Nasdaq Composite
Up
0.6%
percent
6,128
38.25
30 Year Treasury
Up
3
Basis Points
2.93
Annual Yield
The Labor Department reports the US created 222,000 new jobs in June as hiring picked up in the Spring. Economists only expected 180,000 new jobs. The increase was the largest in four months and second biggest of the year. Hiring for April and May were revised upward. The unemployment rate actually increased to 4.4% from 4.3% as more people entered the labor force looking for work. Hourly pay rose 0.2% to $26.25 an hour. Wages have increased only 2.5% in the past year, below the usual gains at this late stage of an expansion as companies continue to find ways to hold down labor costs.
Gold is down on that solid jobs report that shows few signs of inflation. August gold is down 0.6% to $1,215.30 on the New York Merc.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
