| The KUIK Market Update for Thursday, August 29: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 79 | points | 14,903 | 8:04 AM | ||
| S&P500 | Up | 0.63% | percent | 1,645 | 10.28 | ||
| Nasdaq Composite | Up | 1.06% | percent | 3,631 | 37.92 | ||
| 30 Year Treasury | Down | (2) | Basis Points | 3.74 | Annual Yield | ||
| The Commerce Department reports gross domestic product rose at a 2.5% annual rate in the April-to-June period, better than the initial reading of 1.7% and faster than the first quarters 1.1%. However few analysts expect growth to accelerate in the second half of the year in light of reduced government spending, slow wage growth and a sluggish global economy. Economists expect the U.S. to grow 2.4% in the third and 2.8% in the fourth quarter. | |||||||
| The average rate for the 30-year fixed-rate mortgage declined to 4.51% in the week that ended Aug. 29 from 4.58% in the prior week, which was the highest rate in two years, according to Freddie Mac’s weekly report. The 15-year fixed-rate mortgage also declined from a two-year high, hitting 3.54%, compared with 3.60% last week. | |||||||
| Tablets are expected to face stiffer competition from other devices, including bigger smartphones and wearable computers, according to research group IDC. It cut its tablet sales estimate for 2013 to 227.4 million from 229.3 million. The group also projected slower growth in North America and Western Europe, | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-second-quarter-growth-boosted-to-25-2013-08-29 | |||||||
| http://www.marketwatch.com/story/30-year-mortgage-rate-declines-to-451-2013-08-29-109106 | |||||||
| http://www.marketwatch.com/story/tablet-sales-forecast-trimmed-by-idc-2013-08-29?dist=markets | |||||||
| For today’s Morning Market Report click to listen-> | |||||||