Market Update Report 1/31/2014 | Beacon Rock Wealth Advisors

The KUIK Market Update for Friday, January 31:

Markets are down.

Index	Direction	Change	Units	Last	Time	Change
Dow	Down	(203)	points	15,647	7:47 AM
S&P500	Down	-0.99%	percent	1,776		(17.78)
Nasdaq Composite	Down	-0.93%	percent	4,085		(38.22)
30 Year Treasury	Down	(4)	Basis Points	3.60	Annual Yield

The Commerce Department reports December consumer spending rose a seasonally adjusted 0.4%. Economists expected a 0.2% gain. December’s increase follows an upwardly revised 0.6% gain in November. The pace of spending in the last two months of the year marked the strongest back-to-back increase since the first two months of 2012. During the month, Americans spent more on services, but they bought fewer long-lasting items like cars and appliances. Purchases of durable goods fell 1.4%, for the first drop in three months.

Tthe University of Michigan/Thomson Reuters consumer-sentiment index fell to a final reading of 81.2 in January, down from December’s of 82.5. January’s preliminary estimate is 80.4. Economists polled by MarketWatch expected a final January read of 81, with weak job growth weighing on consumers.

Annual inflation in Europe fell to a record low in January, which will put pressure on the European Central Bank to act to head off the threat of deflation. The European Union’s statistics agency reports consumer prices rose by 0.7% in the 12 months to January, down from an 0.8% annual rate of inflation in December, and below the ECB’s target of 2.0%



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

http://www.marketwatch.com/story/consumer-spending-up-sharply-in-december-2014-01-31
http://www.marketwatch.com/story/consumer-sentiment-declines-in-january-2014-01-31?dist=lcountdown
http://www.marketwatch.com/story/euro-zone-inflation-returns-to-record-low-2014-01-31-54854323?dist=lcountdown


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