| The KUIK Morning Market Report for Wednesday, July 30: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (32) | points | 16,880 | 7:07 AM | ||
| S&P500 | Down | 0.0% | percent | 1,969 | (0.52) | ||
| Nasdaq Composite | Up | 0.3% | percent | 4,455 | 12.33 | ||
| 30 Year Treasury | Up | 4 | Basis Points | 3.26 | Annual Yield | ||
| Gross domestic product grew at a 4% annual clip in the second quarter, according to the Commerce Department. Economists expected 3.2%. First quarter GDP was revised upward to a 2.1% drop up from 2.9%. | |||||||
| ADP reports employers added 218,000 private-sector jobs this month, down from 281,000 in June. This is the fourth straight month of job growth above 200,000. Economists polled by Dow Jones expected 235,000. | |||||||
| Inflation as measured by the Federal Reserve’s preferred price index surged in the second quarter to the highest annual rate in three years. The PCE index rose at a 2.3% annual rate in the second quarter, compared to 1.4% in the first. That’s the fastest pace since the second quarter of 2011. And the core PCE that excludes food and energy climbed at 2%, up from 1.2%. Federal Reserve officials believe the pickup in inflation has been exaggerated by temporary factors that should ease soon, but the central bank icould be forced to raise interest rates sooner than expected. The Fed ‘s inflation target is 2% to 2.5%. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/economy-snaps-back-grows-4-in-spring-2014-07-30 | |||||||
| http://www.marketwatch.com/story/private-sector-job-growth-tops-200000-for-fourth-month-adp-2014-07-30 | |||||||
| http://www.marketwatch.com/story/us-inflation-accelerates-sharply-in-second-quarter-2014-07-30 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||