| The KUIK Morning Market Report for Wednesday, February 5: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 25 | points | 15,470 | 7:13 AM | ||
| S&P500 | Down | -0.69% | percent | 1,743 | (12.09) | ||
| Nasdaq Composite | Down | -1.02% | percent | 3,990 | (41.09) | ||
| 30 Year Treasury | Up | 2 | Basis Points | 3.62 | Annual Yield | ||
| ADP reports private-sector-job growth slowed down in January, as employers added 175,000 jobs, and the December number was revised down to 227,000. Economists expected a gain of 189,000 job. | |||||||
| Markit reported its composite Purchasing Managers Index for Europe, which measures activity in both manufacturing and services –rose to 52.9 in January from 52.1 in December, signaling the most rapid expansion since June 2011. The survey also shows that businesses have stopped cutting jobs, and that the labor market is improving. | |||||||
| Bank of America $8.5 billion settlement over mortgage securities could be in limbo again. The new judge overseeing the case has postponed giving it final approval, according to Bloomberg. Justice Saliann Scarpulla of New York state court in Manhattan agreed to delay approval of the deal after AIG filed a request yesterday, and she has decided to hold a hearing later in February. The case involves mortgage securities that Bank of America sold to investors in the run-up to the financial crisis. Investors sued when those securities went sour, and in 2011 Bank of America agreed to pay $8.5 billion to Bank of New York which was the investors’ trustee. Some investors, though, including AIG said the deal wasn’t good enough and took the banks to court. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/wall-street-cautious-ahead-of-adp-jobs-ism-data-2014-02-05 | |||||||
| http://www.marketwatch.com/story/euro-zone-pmi-rises-but-misses-flash-estimate-2014-02-05 | |||||||
| http://www.marketwatch.com/story/judge-throws-bofas-85-bln-deal-back-in-limbo-2014-02-05 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||