| The KUIK Market Update for Friday, May 31: | |||||||
| Markets are down slightly. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (12) | points | 15,312 | 7:58 AM | ||
| S&P500 | Down | -0.23% | percent | 1,651 | (3.83) | points | |
| Nasdaq Composite | Down | -0.15% | percent | 3,486 | (5.00) | points | |
| 30 Year Treasury | Up | 2 | Basis Points | 3.31 | Annual Yield | ||
| The Chicago Purchasing Managers Index surged to a reading of 58.7 in May, up from 49.0 in April. This is the best reading in over a year, just a month April’s worst reading in three-and-a-half years. Economists polled by MarketWatch expected 49.9. The rebound included a surge in production, order backlogs, employment and supplier deliveries from contraction to expansion. The Institute for Supply Management in Milwaukee said its regional index tumbled to 40.7 from 48.4 in April.Above 50 indicates expansion. | |||||||
| The Commerce Department reported consumer spending fell a seasonally adjusted 0.2% last month,. Economists expected only a 0.1% decrease. That’s the fastest drop in over a year and is partly due to slowing income growth. Lower inflation helped consumers stretch their dollars. | |||||||
| The final May reading of the University of Michigan and Thomson Reuters consumer-sentiment index was 84.5 — the highest level since July 2007 — up from 76.4 in April. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/chicago-pmi-surges-past-expectations-2013-05-31 | |||||||
| http://www.marketwatch.com/story/us-consumers-reduce-spending-in-april-2013-05-31 | |||||||
| http://www.marketwatch.com/story/consumer-sentiment-highest-since-2007-2013-05-31 | |||||||
| For today’s Market Update Report click to listen-> | |||||||