| The KUIK Morning Market Report for Friday, May 30: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (15) | points | 16,684 | 7:12 AM | ||
| S&P500 | Up | 0.0% | percent | 1,921 | 0.74 | ||
| Nasdaq Composite | Down | -0.1% | percent | 4,245 | (3.45) | ||
| 30 Year Treasury | Up | 3 | Basis Points | 3.33 | Annual Yield | ||
| Consumer spending fell in April, for the biggest drop in a year, as Americans cut back on car purchases and spent less on services. Consumer spending fell a seasonally adjusted 0.1% last month, according to the Commerce Department. Economists forecasted no change. In March, consumer spending rose by a revised 1%, for the largest increase since 2009. The past two months suggest consumers are increasing their spending at a modest rate. Personal incomes, meanwhile, rose 0.3% in April, but that was the smallest gain in 2014 and the savings rate moved up to 4% from 3.6% in March. The savings rate in March matched a post-recession low. Inflation as gauged by the Personal Consumption Expenditures price index rose 0.2% in April, as did the core rate that strips out food and energy. Over the past 12 months, the PCE index has risen at a 1.6% rate, the highest since November 2012, in a sign that inflation is increasing. | |||||||
| The Chicago Purchasing Managers Index accelerated in May to 65.5 up from 63.0 in April, and beating the consensus of 62.1. It is at the highest level since October. Order-backlogs rose to a three-year while new orders rose slightly. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-consumers-cut-spending-in-april-for-first-time-in-a-year-2014-05-30 | |||||||
| http://www.marketwatch.com/story/chicago-pmi-accelerates-in-may-2014-05-30 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||