Market Update Report 3/9/2018

The KUIK Market Update for Friday, March 9:

Markets are up.

Index

Direction

Change

Units

Index

Time

Change

Dow Jones Industrial Average

Up

                   265

 points

          25,160

8:11 AM

S&P500

Up

1.0%

percent

            2,767

Nasdaq Composite

Up

1.1%

percent

            7,508

      3.00

30 Year Treasury

Up

                      4

Basis Points

              3.17

Annual Yield

The Labor Department reports the U.S. added 313,000 new jobs in February, for the biggest gain in a year and a half. That blew past the 222,000 jobs expected by economists. Gains for January and December were revised upward. Despite the big increase in hiring, wage growth did not keep up. Hourly pay rose 4 cents to $26.75 an hour, but the yearly increase in wages fell to 2.6% from a revised 2.8% in January. The unemployment rate was unchanged at a 17-year low of 4.1%

Capital One  announced a new feature for its credit cards called “virtual numbers.” They are one-time numbers consumers can use while shopping online so they don’t have to give their credit-card number to an online retailer. To get the virtual number, a card holder must visit their profile on the Capital One website. It has a tool called “Virtual Numbers from Eno,” named after Capital One’s virtual assistant. The tool creates unique, virtual numbers for each merchant, linked to their Capital One credit card account.The retailers don’t receive the actual number printed on consumer’s physical credit card. Right now, the service is only available on desktop, but will work on Capital One’s mobile app in the future.

Serving the West Side first, I am Bill Roller of brcapitalinc.com for 1360 KUIK.

www.marketwatch.com/story/us-adds-313000-jobs-in-february-in-biggest-gain-in-a-year-and-a-half-2018-03-09#false

www.marketwatch.com/story/the-newest-way-to-combat-fraud-a-one-time-credit-card-number-you-can-throw-away-2018-03-09

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