| The KUIK Market Update for Monday, April 1: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (41) | points | 14,538 | 8:06 AM | ||
| S&P500 | Down | -0.59% | percent | 1,560 | (9.22) | points | |
| Nasdaq Composite | Down | -0.84% | percent | 3,240 | (27.50) | points | |
| 30 Year Treasury | Down | (2) | Basis Points | 3.09 | Annual Yield | ||
| The Institute for Supply Management’s Purchasing Managers Index cooled off the markets. It fell to 51.3% from 54.2% in February. Over over 50% indicates expansion, but the latest reading was a disappointment to Wall Street. Economists polled by MarketWatch expected it to stay flat at 54.2%. The new-orders index dropped to 51.4% from 57.8% in February. The production index sank 5.4% to 52.2%. The good news is the employment index climbed to 54.2% from 52.6% which is the highest rate since June 2012 and 14 of the 18 industries surveyed reported growth. | |||||||
| The Commerce Department reported construction spending in February grew 1.2% to a seasonally adjusted annual rate of $885.1 billion. The 1.2% growth was faster than the 1% forecast in a MarketWatch-compiled poll, and spending was 7.9% stronger than February 2012. | |||||||
| Marketwatch reports Intel shares fell 1.9% to $21.42 after JMP Securities downgraded the stock to a market perform rating. In a note to clients, analyst Alex Gauna cited the “discovery of technology roadmap issues that add to an already challenging outlook.” | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-manufacturing-cools-off-a-bit-in-march-2013-04-01 | |||||||
| http://www.marketwatch.com/story/construction-spending-climbs-12-in-february-2013-04-01 | |||||||
| http://www.marketwatch.com/story/intel-shares-fall-on-jmp-downgrade-2013-04-01?link=MW_Nav_MA | |||||||
| For today’s Market Update Report click to listen-> | |||||||