| The KUIK Morning Market Report for Friday, February 28: | |||||||
| Markets have opened on the up side. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 42 | points | 16,314 | 7:07 AM | ||
| S&P500 | Up | 0.50% | percent | 1,864 | 9.22 | ||
| Nasdaq Composite | Up | 0.44% | percent | 4,338 | 18.89 | ||
| 30 Year Treasury | Up | 3 | Basis Points | 3.63 | Annual Yield | ||
| The economic outlook is still bright despite recent noisy data, said Charles Plosser, president of the Philadelphia Federal Reserve, In an interview on Bloomberg Television, Plosser said he still expects 3% growth this year. He said it may take a few months to understand the impact of weather on the recent data. | |||||||
| The Chicago Purchasing Managers Index accelerated in February. It rose to 59.8 in February from 59.6 in January, beating expectations of 56. A gain in employment offset declines in new orders, production and order backlogs. A reading above 50 indicates expansion. The report confirms that the U.S. economic recovery continued in February. | |||||||
| Bitcoin exchange Mt. Gox says it is filing for bankruptcy protection and that 750,000 of its customers’ bitcoins and 100,000 of its own had been lost. At market prices charted by the CoinDesk bitcoin index, that would represent a loss of $473 million. The company’s lawyer also said at a news conference at the Tokyo District Court that Mt. Gox had outstanding debt of about $63.6 million and assets of $40 million. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/feds-plosser-still-optimistic-despite-noisy-data-2014-02-28 | |||||||
| http://www.marketwatch.com/story/chicago-pmi-accelerates-in-february-2014-02-28?link=MW_story_latest_news | |||||||
| http://www.marketwatch.com/story/mt-gox-loses-customers-bitcoins-files-for-bankruptcy-2014-02-28 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||