| The KUIK Market Update for Friday, October 31: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 195 | points | 17,391 | 2:10 PM | ||
| S&P500 | Up | 1.2% | percent | 2,018 | 23.40 | ||
| Nasdaq Composite | Up | 1.4% | percent | 4,631 | 64.60 | ||
| 30 Year Treasury | Up | 2 | Basis Points | 3.06 | Annual Yield | ||
| The Commerce Department reports that consumer spending dropped a seasonally adjusted 0.2% in September. Economists expected a 0.1% increase. That was the first drop this year, as consumers bought fewer cars and trucks and spent less on gasoline because of falling oil prices. Incomes rose, though the 0.2% increase in September was the smallest since the end of 2012. That money went into savings. The savings rate rose to 5.6% in September, up from 5.4%, and matching a two-year high. | |||||||
| The Bank of Japan announced today that it will increase the pace of its purchases of Japanese Government Bonds as it fights a falling inflation rate and downbeat economic data. The BOJ board voted 5-4 in favor of increasing the central bank’s annual asset purchases to 80 trillion yen, up from a prior target range of between ¥60 and ¥70 trillion yen. That quantitative easing helped the Nikkei which ended up by almost 5%. | |||||||
| The Chicago Purchasing Managers Index rose to a one-year high in October, helped by gains in new orders, MNI Indicators said Friday. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/consumer-spending-slumps-in-september-2014-10-31 | |||||||
| http://www.marketwatch.com/story/treasurys-fall-after-japans-surprise-easing-measures-2014-10-31?mod=MW_story_latest_news | |||||||
| http://www.marketwatch.com/story/chicago-pmi-climbs-to-one-year-high-of-662-2014-10-31?link=MW_home_latest_news | |||||||
| For today’s Market Update Report click to listen-> | |||||||