| The KUIK Morning Market Report for Friday, September 27: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (115) | points | 15,213 | 7:03 AM | ||
| S&P500 | Down | -0.65% | percent | 1,688 | (11.03) | ||
| Nasdaq Composite | Down | -0.55% | percent | 3,766 | (20.99) | ||
| 30 Year Treasury | Up | 0 | Basis Points | 3.69 | Annual Yield | ||
| The Commerce Department reports consumer spending rose a seasonally adjusted 0.3% last month, marking the third-fastest increase of the year, and spending in July rose twice as fast as initially estimated coming in at 0.2% instead of 0.1%. The rise in spending was aided by the biggest increase in worker earnings in six months. Personal income rose 0.4% in August, which worked it’s way into savings. The savings rate rose to 4.6% from 4.5%. The savings rate, however, hasn’t topped 5% since late last year | |||||||
| Gold prices were trading near unchanged levels and then moved higher following wire reports that Chicago Federal Reserve president Charles Evans said the central bank may not begin to scale back its monthly bond-buying program until 2014 because the U.S. economic environment still needs to improve. December gold is up 1% to $1,337.20 on the Comex division of the New York Merc. | |||||||
| A government shutdown is looking inevitable as House Majority Leader John Boehner says the House wouldn’t accept the spending plan likely to emerge from the Senate | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/consumer-spending-bounces-back-in-august-2013-09-27 | |||||||
| http://www.marketwatch.com/story/gold-hovers-at-weekly-loss-debt-taper-at-play-2013-09-27 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||