| The KUIK Market Update for Wednesday, May 8: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 1 | points | 15,057 | 8:02 AM | ||
| S&P500 | Up | 0.19% | percent | 1,629 | 3.08 | points | |
| Nasdaq Composite | Up | 0.33% | percent | 3,408 | 11.04 | points | |
| 30 Year Treasury | Down | (1) | Basis Points | 2.99 | Annual Yield | ||
| Yesterday the Dow industrials hit an intraday high before closing at a record 15,056. The S&P 500 index closed at a record for the fourth straight session at 1,625.96. In a note to investors analysts at Morgan Stanley predicted the S&P 500 will end the year at 1,600. New York University economics professor Nouriel Roubini said that the market is not looking at a bubble, but markets could be setting up for a major selloff due to a “huge rally in risk assets” over the next two years. | |||||||
| Oil futures gave back some of their gains after the U.S. Energy Information Administration reported a rise in last week’s crude supplies that was less than expected, but also showed a sizable climb in distillate supplies. Crude supplies rose 200,000 barrels for the week ended May 3. Analysts expected a 1.9 million-barrels. Distillates rose by 1.8 million barrels, while gasoline stockpiles fell by 900,000 barrels. | |||||||
| U.S. consumers increased their debt in March by a seasonally adjusted $8.0 billion, the smallest increase since July, according to the Federal Reserve–suggesting a dramatic decline in spending. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-stocks-ease-after-record-setting-run-2013-05-08 | |||||||
| http://www.marketwatch.com/story/eia-reports-rise-in-crude-distillate-supplies-2013-05-08 | |||||||
| http://www.marketwatch.com/story/consumer-credit-growth-slows-in-march-2013-05-07-16103943 | |||||||
| For today’s Market Update Report click to listen-> | |||||||