Market Update Report 8/5/2013 | Beacon Rock Wealth Advisors

The KUIK Market Update for Monday, August 5:

Markets are mixed.

Index	Direction	Change	Units	Last	Time	Change
Dow	Down	(25)	points	15,634	7:44 AM
S&P500	Down	-0.05%	percent	1,709		(0.80)
Nasdaq Composite	Up	0.05%	percent	3,692		1.75
30 Year Treasury	Up	3	Basis Points	3.72	Annual Yield

U.S. service-sector expanded at a faster pace in July, according to the Institute for Supply Management. The ISM said its survey of purchasing managers climbed to 56.0% last month from 52.2% in June. That’s the highest level since February. Economists surveyed by MarketWatch expected 53.1%. Reading over 50% indicate more companies are expanding instead of shrinking. Sixteen of the 18 industries reported growth last month, up from 14 in June. The new-orders index increased to 57.7% from 50.8% and production surged to 60.4% from 51.7%, but the employment gauge dipped to 53.2% from 54.7%

Europe is growing again according to the Euro-zone final purchasing managers’ indexes for July. The composite index 50.5, above a preliminary reading of 50.4 and better than June’s 48.7. The July reading marked the first time since January 2012 the index has climbed above the 50 level that indicates expansion.

European stock markets extended gains into a sixth straight session today, with several firms on the rise after broker upgrades and investors digesting that euro-zone PMI data. The Stoxx Europe 600 index added 0.3% to 304.96, on track for the highest close since late May.



Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.

http://www.marketwatch.com/story/us-service-companies-expand-faster-in-july-ism-2013-08-05
http://www.marketwatch.com/story/europe-stocks-rise-after-pmi-broker-upgrades-2013-08-05
http://www.marketwatch.com/story/europe-stocks-rise-after-pmi-broker-upgrades-2013-08-05


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