| The KUIK Market Update for Monday, June 16: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 10 | points | 16,786 | 1:23 PM | ||
| S&P500 | Up | 0.1% | percent | 1,940 | 1.62 | ||
| Nasdaq Composite | Up | 0.2% | percent | 4,320 | 10.45 | ||
| 30 Year Treasury | Down | (1) | Basis Points | 3.40 | Annual Yield | ||
| The Federal Reserve reports Industrial production increased 0.6% in May, after falling 0.3% in April and rising 0.8% in March. Economists expected a 0.5% gain. Mining output grew 1.3%, manufacturing rose 0.6% while utilities fell 0.8%. Compared to May 2013, industrial production grew 4.3%. Capacity utilization rose to 79.1% from April’s revised 78.9%. | |||||||
| The International Monetary Fund cut its growth estimate for the U.S. to 2% for 2014, down from the 2.8% it projected in April. The IMF still expects 3% growth in 2015. The IMF says though there is a “meaningful” rebound, it won’t be enough to offset the first quarter that was hit by a harsh winter, inventory drawdowns, a still-struggling housing market and slower external demand. | |||||||
| Home builders’ confidence rose four points to 49 in June to the highest level in five months according to the National Association of Home Builders/Wells Fargo housing-market index. Economists expected a June reading of 47, up from 45 in May. The index has been below 50 since February, indicating that builders are still pessimistic about sales trends. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/industrial-production-climbs-06-in-may-2014-06-16 | |||||||
| http://www.marketwatch.com/story/imf-cuts-2014-longer-term-us-growth-forecasts-2014-06-16 | |||||||
| http://www.marketwatch.com/story/home-builder-confidence-highest-in-five-months-nahb-2014-06-16?link=MW_latest_news | |||||||
| For today’s Market Update Report click to listen-> | |||||||