| The KUIK Market Update for Friday, November 30: | |||||||
| Markets are flat this morning. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 3 | points | 13,025 | 7:45 AM | ||
| S&P500 | Down | -0.1% | percent | 1,415 | (0.64) | points | |
| Nasdaq Composite | Down | -0.1% | percent | 3,009 | (3.37) | points | |
| 30 Year Treasury | Down | (2) | Basis Points | 2.78 | Annual Yield | ||
| Consumer spending fell in October, dropping a seasonally adjusted 0.2% in October after surging 0.8% in September, the Commerce Department reported. It was the first decline since May. Incomes were flat last month. The government said the superstorm reduced wages and salaries by more than $18 billion annually. | |||||||
| Business activity in the U.S. expanded in November for the first time in three months. The MNI Chicago Report’s business barometer rose to 50.4 from 49.9 in October. Above 50 is expansion. Economists expected 50.5. | |||||||
| Twinkies are looking for a new home. Yesterday Hostess Brands received permission a federal bankruptcy judge to sell its assets, dismiss 18,000 employees and liquidate the company, media reports said. U.S. Bankruptcy Judge Robert Drain in White Plains, N.Y., ruled that the iconic maker of Twinkies and Ding Dongs could pay as much as $1.8 million to the senior managers who will stay on to oversee the winding down of the operations. At the same time, an adviser to Hostess said in court that 110 parties have shown interest in the brands, which also include its cupcakes, Devil Dogs, Wonder Bread and Ho Ho’s. The stock market is looking for junk food high. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-personal-spending-drops-in-october-2012-11-30 | |||||||
| http://www.bloomberg.com/news/2012-11-30/business-activity-in-u-s-expands-for-first-time-in-three-months.html | |||||||
| http://www.marketwatch.com/story/hostess-cleared-to-close-110-entities-eye-brands-2012-11-30 | |||||||
| For today’s Market Update Report click to listen-> | https://beaconrwa.com/audio/Market-Update-Report.mp3 | ||||||
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