| The KUIK Market Update for Monday, May 5: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (7) | points | 16,505 | 7:58 AM | ||
| S&P500 | Down | 0.0% | percent | 1,881 | (0.22) | ||
| Nasdaq Composite | Up | 0.1% | percent | 4,128 | 3.87 | ||
| 30 Year Treasury | Up | 3 | Basis Points | 3.40 | Annual Yield | ||
| China’s manufacturing contracted for a fourth month in April. HSBC Holdings Plc and Markit Economics said today their purchasing managers’ index rose to 48.1. That missed the median estimate of 48.4 and the preliminary reading of 48.3. Numbers below 50 indicate contraction. Both new export orders and employment were reviseded downward indicating Chinese manufacturing and the broader economy are both losing momentum. | |||||||
| J.P. Morgan is off 3% to $54.35 as it warns of a challenging trading environment. The bank also said it incurred legal expenses of $347 million in the first quarter. | |||||||
| The Institute for Supply Management said its non-manufacturing index rose to 55.2% in April for the highest reading in six months up from 53.1% in March. Economists expected April rto be 54.2%. Readings over 50% signal expansion. New-orders and the business activity both increased while the non-manufacturing employment fell. Among 18 industries tracked, 14 reported growth while four contracted. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.bloomberg.com/news/2014-05-05/u-s-stock-index-futures-decline-as-china-pmi-disappoints.html | |||||||
| http://www.marketwatch.com/story/jp-morgan-falls-on-warning-tyson-slips-on-earnings-2014-05-05?dist=markets | |||||||
| http://www.marketwatch.com/story/ism-non-manufacturing-index-rises-to-552-in-april-2014-05-05 | |||||||
| For today’s Market Update Report click to listen-> | |||||||