Daily Market Update 9/4/14

Rates held steady Thursday in volatile trading ahead of tomorrow’s Employment Report.  This morning, weekly Jobless Claims rose to 302,000, close to expectations.  Payrolls firm ADP estimated the economy added 204,000 private sector jobs last month, slightly below forecast.  The Institute for Supply Management services index rose to 59.6.  A reading of 58.0 had been expected.  The European Central Bank (ECB) announced a rate cut of .10% to record low levels and an asset purchase program to boost economic growth.  No other key data will be released today.  The closely-watched Employment Report for August will be released tomorrow at 8:30 AM.

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