| The KUIK Market Update for Wednesday, March 5: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (25) | points | 16,370 | 8:06 AM | ||
| S&P500 | Up | 0.13% | percent | 1,876 | 2.44 | ||
| Nasdaq Composite | Up | 0.14% | percent | 4,358 | 6.29 | ||
| 30 Year Treasury | Down | (1) | Basis Points | 3.63 | Annual Yield | ||
| Private-sector employers added 139,000 jobs last month, up from a revised 127,000 in January, but down from 205,000 in February 2013, according to ADP. Economists expected 160,000. The severe cold weather is blamed for the shortfall. | |||||||
| U.S. service-sector companies expanded in February at a sharply slower pace and bad weather was only part of the problem. The Institute for Supply Management said its nonmanufacturing index dropped to 51.6% in February down from 54% in January. Economists expected 53. The employment gauge tumbled nearly 9 points to 47.5%, marking the lowest level since March 2010 as severe weather hindered hiring in some sectors such as construction and wholesale trade. New-orders edged up slightly, while production dropped. Ten of the industries tracked reported growth while eight recorded a decline. Readings over 50% indicate more companies are expanding instead of shrinking | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/private-sector-hiring-remains-weak-hurt-by-weather-2014-03-05 | |||||||
| http://www.marketwatch.com/story/ism-services-index-falls-to-516-in-february-2014-03-05-109196 | |||||||
| For today’s Market Update Report click to listen-> | |||||||