| The KUIK Market Update for Friday, March 28: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 148 | points | 16,412 | 8:30 AM | ||
| S&P500 | Up | 0.81% | percent | 1,864 | 15.03 | ||
| Nasdaq Composite | Up | 1.04% | percent | 4,195 | 43.35 | ||
| 30 Year Treasury | Up | 5 | Basis Points | 3.56 | Annual Yield | ||
| A federal judge in North Carolina has recommended the dismissal of the government’s lawsuit against Bank of America over $850 million in soured mortgage securities from 2008 saying the Justice Department which is pursuing the case through the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, is applying the law too broadly. The opinion, if upheld, could undercut the Obama administration’s broader attempt to pursue big banks for activities leading up to the 2008 financial crisis. | |||||||
| Consumer sentiment numbers are mixed. According to the University of Michigan Thompson Reuters survey, consumer sentimentfell to final March reading of 80, the lowest level since November from a final Februay level of 81.6. Economists expected 81. | |||||||
| However in a separate report, the Commerce Department said spending in February climbed 0.3% on a seasonally adjusted basis, and personal incomes also rose 0.3%. Americans spent more on services such as health care and utilities, but in a negative sign, purchases of big-ticket items such as new cars fell for the third straight month. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/magistrate-recommends-bank-of-america-suit-be-dismissed-2014-03-27 | |||||||
| http://www.marketwatch.com/story/consumer-sentiment-declines-in-march-report-2014-03-28 | |||||||
| http://www.marketwatch.com/story/consumer-sentiment-lowest-in-four-months-2014-03-28?link=MW_story_latest_news | |||||||
| For today’s Market Update Report click to listen-> | |||||||