| The KUIK Market Update for Wednesday, December 4: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (47) | points | 15,868 | 6:59 AM | ||
| S&P500 | Down | -0.35% | percent | 1,789 | (6.31) | ||
| Nasdaq Composite | Down | -0.19% | percent | 4,029 | (7.87) | ||
| 30 Year Treasury | Up | 5 | Basis Points | 3.89 | Annual Yield | ||
| The ADP jobs report shows that private-sector hiring in November was the hottest in a year, as 215,000 jobs were added. That blew away the consensus forecast, which expected 178,000 new private jobs, up from an originally estimated gain of 130,000 in October, after the government shutdown. | |||||||
| The Hill reports House Democrats are lining up against a stopgap spending bill that would keep the automatic budget cuts known as the sequester. Republican leaders have been preparing a bill if a House-Senate budget conference falls apart. While the heads of that committee continue to talk, there’s no deal yet, and opposition to a stopgap bill raises the prospect of a shutdown in mid-January. | |||||||
| John Williams, president of the San Francisco Federal Reserve Bank in an interview with Reuters today said the Fed should only taper when it is “completely confident” the economy is on the right track. and when the Fed reaches that level of confidence, it should announce an end date and a total purchase total for the program. The Fed began the third round of asset purchases — $85 billion a month in September 2012.Williams also said he was concerned that markets are not getting the Fed’s message that interest rates will stay low even after the Fed ends the purchases. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/private-job-gains-hottest-in-a-year-2013-12-04 | |||||||
| http://blogs.marketwatch.com/capitolreport/2013/12/04/government-shutdown-risk-is-rising-plus-more-wednesday-reads/ | |||||||
| http://blogs.marketwatch.com/capitolreport/2013/12/03/feds-williams-only-taper-when-sure-economy-on-right-track/ | |||||||
| For today’s Market Update Report click to listen-> | |||||||