Morning Market Report 8/1/2013 | Beacon Rock Wealth Advisors

The KUIK Morning Market Report for Thursday, August 1:

Markets are up.

Index	Direction	Change	Units	Last	Time	Change
Dow	Up	132	points	15,632	6:56 AM
S&P500	Up	0.99%	percent	1,702		16.72
Nasdaq Composite	Up	0.92%	percent	3,659
30 Year Treasury	Up	6	Basis Points	3.71	Annual Yield

The Labor Department reported initial jobless claims dropped by 19,000 to a seasonally adjusted 326,000 in the week ended July 27, the lowest level in five and a half years. Economists surveyed by MarketWatch expected 345,000.

The final read of the Markit manufacturing purchasing managers index was 53.7 in July, better than the initial reading of 53.2 and up from a reading of 51.9 in June. This is the fastest rate of growth since March. Output expanded to 54.8 in July from 53.5 in June and the employment gauge moved into expansion territory to 53.0 from 49.9.

Job-cut plans declined in July, as employers announced plans to reduce payrolls by 37,701 workers, down 4.2% from June , according to outplacement firm Challenger, Gray & Christmas, Inc.July’s total was 2.3% higher than a year ago. Employers have now announced 7.3% fewer cuts then in the first seven months of 2012. July workforce reductions were led by the health care sector, which has been impacted by cuts in Medicare reimbursements and health-care reform,



Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.

http://www.marketwatch.com/story/us-jobless-claims-drop-19000-to-326000-2013-08-01-81034326
http://www.marketwatch.com/story/markits-final-manufacturing-pmi-at-537-in-july-2013-08-01-99154
http://www.marketwatch.com/story/job-cut-plans-decline-in-july-challenger-2013-08-01


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