Daily Market Update 1/6/10

Rates inched lower early Wednesday but came under upward pressure by late morning. The Institute for Supply Management services index rose to 50.1 last month, falling short of expectations. A reading above 50.0 indicates expansion in the services sector of the economy. Private payroll firm ADP estimated net job losses of 84,000 last month, far less than originally forecast. Friday’s Employment Report for December will be closely watched by investors. This afternoon the Fed releases minutes from the December FOMC meeting.

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