Market Update Report 5/2/2014 | Beacon Rock Wealth Advisors

The KUIK Market Update for Friday, May 2:
Markets are down.
Index	Direction	Change	Units	Last	Time	Change
Dow	Down	(25)	points	16,534	8:02 AM
S&P500	Down	-0.1%	percent	1,882	(1.20)
Nasdaq Composite	Down	-0.1%	percent	4,123	(4.63)
30 Year Treasury	Down	(1)	Basis Points	3.39	Annual Yield
The Labor Department reports the economy created 288,000 nonfarm jobs last month, for the best performance since January 2012. Gains for March and February were also revised upward by a combined 36,000. The unemployment rate dropped to 6.3% from 6.7%, the lowest level since September 2008. The rate dropped because fewer people said they were unemployed, but the size of the labor force also fell. The labor-force participation rate fell to 62.8% from 63.2%, matching a 35-year low.
TThe Energy Department announced the creation of the first federal, regional reserve for gasoline. Its goal is to ease supply disruptions in the Northeast. The government said it will establish two Northeast reserve locations near New York Harbor and in somewhere in New England, based on what the Energy Department learned from the fuel supply disruption after Superstorm Sandy. Each location will store 500,000 barrels of gasoline.
Orders for goods produced in U.S. factories rose 1.1% in March, according to the Commerce Department . Economists expected a 1.4% gain. Orders were up a revised 1.5% in February.
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/story/us-economy-gains-288000-jobs-in-april-2014-05-02
http://www.marketwatch.com/story/many-renters-have-enough-money-to-buy-homes-2014-05-02http://www.marketwatch.com/story/us-energy-dept-creates-regional-gasoline-reserve-2014-05-02
http://www.marketwatch.com/story/factory-orders-rise-11-in-march-2014-05-02-1091426
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