| The KUIK Morning Market Report for Wednesday, June 26: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 125 | points | 14,885 | 7:04 AM | ||
| S&P500 | Up | 0.88% | percent | 1,602 | |||
| Nasdaq Composite | Up | 0.87% | percent | 3,377 | |||
| 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. The bright spot was residential investment which was revised upward to 14% in the first quarter, from 12.1%. The housing market is gaining momentum. | |||||||
| Microsoft was upgraded to an overweight rating by Morgan Stanley this morning. In a note before the opening bell, analyst Keith Weiss said he sees “more room to run” for the company. Microsoft will be in the spotlight this week as the software giant kicks off its Build 2013 developers conference. It is expected to showcase upcoming changes to its Windows 8 operating system. | |||||||
| 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/microsoft-to-give-first-peek-at-windows-blue-2013-06-24 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||