| The KUIK Market Update for Wednesday, June 26: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | ||
| Dow | Up | 94 | points | 14,856 | 8:01 AM | ||
| S&P500 | Up | 0.60% | percent | 1,598 | |||
| Nasdaq Composite | Up | 0.68% | percent | 3,371 | |||
| 30 Year Treasury | Down | (4.90) | Basis Points | 3.56 | Annual Yield | ||
| The Commerce Department reported The U.S. economy grew slower in the first quarter than previously reported, because of less consumer spending on services and weaker business investment. Gross domestic product rose by 1.8% in the January-to-March period, down from a prior estimate of 2.4%. The increase in consumer spending was lowered to 2.6% from 3.4%. Services were reduced to a 1.7% increase from 3.1%. Business Investment fell a steeper 8.3% instead of a previouly reported 3.5%. Exports and imports were both revised downward. Residential investment was revised up to 14% from 12.1%. Showing the housing market is gaining momentum. | |||||||
| The U.S. Energy Information Administration reports that U.S. crude-oil supplies held steady for the week ended June 21 at 394 million barrels. Analysts polled by Platts expected a 2 million-barrel drop. Gasoline supplies rose by 3.7 million barrel, more than the 1 million barrels expected. After the report August crude fell 1.5% to $93.92 a barrel. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-first-quarter-gdp-cut-to-18-from-24-2013-06-26 | |||||||
| http://www.marketwatch.com/story/oil-futures-drop-after-weekly-supplies-unchanged-2013-06-26?dist=markets | |||||||
| For today’s Market Update Report click to listen-> | |||||||