| The KUIK Market Update for Monday, March 30: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 270 | points | 17,983 | 7:57 AM | ||
| S&P500 | Up | 1.0% | percent | 2,082 | 21.02 | ||
| Nasdaq Composite | Up | 0.8% | percent | 4,930 | 38.51 | ||
| 30 Year Treasury | Up | 1 | Basis Points | 2.54 | Annual Yield | ||
| The Commerce Department reports consumer spending increased only 0.1% in February after dropping for two straight months. Economists expected a seasonally adjusted 0.3% gain. Softer auto sales and harsh winter weather probably kept spending down, though Americans spent more on gasoline for the first time in months. Personal incomes rose 0.4% for the fourth gain in five months, evidence that companies may be offering higher wages to attract workers. The savings rate climbed for the third straight month to 5.8%, the highest level since the end of 2012. Inflation rose 0.2% in February and is up just 0.3% in the past 12 months. | |||||||
| The National Association of Realtors reports pending home sales in February reached their highest level since June 2013. The pending-home-sales index rose 3.1% to 106.9 after January’s downward revision. The index is up 12% from February 2012. A sale is pending when the contract has been signed but the transaction has not closed. Total existing-homes sales in 2015 are forecast to be around 5.25 million, an increase of 6.4%, and the national median existing-home price is expected to increase about 5.6%. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/consumer-spending-rises-scant-01-in-february-2015-03-30 | |||||||
| http://www.marketwatch.com/story/pending-home-sales-in-february-climb-to-20-month-high-2015-03-30 | |||||||
| For today’s Market Update Report click to listen-> | |||||||