| The KUIK Market Update for Wednesday, May 14: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (47) | points | 16,668 | 7:54 AM | ||
| S&P500 | Down | -0.2% | percent | 1,894 | (3.41) | ||
| Nasdaq Composite | Down | -0.2% | percent | 4,122 | (7.91) | ||
| 30 Year Treasury | Down | (8) | Basis Points | 3.38 | Annual Yield | ||
| The Labor Department reports wholesale prices rose a seasonally adjusted 0.6% in April, for the second month of big gain. Excluding the volatile categories of food, energy and trade, core wholesale prices rose 0.3% last month. Economists expected 0.2% increase in the producer Price Index after a revised 0.5% gain in March. The price of goods jumped 0.6% in April as the wholesale cost of food and gasoline rose. The price of services also increased 0.6%. Personal consumption, a new index designed to predict changes in the consumer price index, surged 0.7% in April. Over the past year overall producer prices have risen an unadjusted 2.1%, up from 1.4% in March and just 0.9% in February. | |||||||
| Oil futures pared some gains on Wednesday immediately following weekly data that showed an unexpected climb in U.S. crude supplies. The U.S. Energy Information Administration said crude stockpiles rose 900,000 barrels for the week ended May 9. Analysts polled by Platts were looking for a decline of 1.5 million barrels. Gasoline supplies fell by 800,000 barrels, instead of the expected 1 million barrels. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-producer-prices-jump-06-in-april-2014-05-14 | |||||||
| http://www.marketwatch.com/story/eia-says-us-crude-supplies-up-900000-barrels-2014-05-14 | |||||||
| For today’s Market Update Report click to listen-> | |||||||