| The KUIK Market Update for Monday, July 1: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | ||
| Dow | Up | 141 | points | 15,053 | 8:08 AM | ||
| S&P500 | Up | 1.12% | percent | 1,624 | |||
| Nasdaq Composite | Up | 1.32% | percent | 3,448 | |||
| 30 Year Treasury | Down | (0) | Basis Points | 3.50 | Annual Yield | ||
| US manufacturers rebounded slightly in June after a weak reading in May, according to the Institute for Supply Management. The ISM index rose to 50.9% in June from 49.0% in May, the weakest reading in 4 years. Above 50 indicates expansion. The consensus forecast was for 50.6%. New-orders and production indicate expansion, but employment is contracting. | |||||||
| In China the HSBC manufacturing Purchasing Managers’ Index, dropped to 48.2 from May’s 49.2, marking the second month in a row that the result was below 50 indicating contraction. Total new orders fell for a second, and new export orders fell their fastest since March 2009. | |||||||
| The Commerce Department reports construction spending rose 0.5% in May to a seasonally adjusted annual rate of $874.9 billion. Economists expected a 0.8% rise. Nonresidential construction spending rose 0.1%, while residential construction spending increased 1.2%. Construction spending in May was 5.4% higher than the same period in 2012. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-final-manufacturing-pmi-at-519-in-june-2013-07-01 | |||||||
| http://www.marketwatch.com/story/june-us-ism-factory-index-improves-to-509-2013-07-01 | |||||||
| http://www.marketwatch.com/story/construction-spending-rises-05-in-may-2013-07-01 | |||||||
| For today’s Market Update Report click to listen-> | |||||||