| The KUIK Morning Market Report for Wednesday, April 29: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (29) | points | 18,082 | 7:04 AM | ||
| S&P500 | Down | -0.3% | percent | 2,108 | (6.33) | ||
| Nasdaq Composite | Down | -0.3% | percent | 5,041 | (14.10) | ||
| 30 Year Treasury | Up | 10 | Basis Points | 2.77 | Annual Yield | ||
| The Commerce Department reports the U.S. economy grew at a 0.2% annual pace in the first quarter of 2015. Enduring winter weather, a port strike, and a soaring dollar that hurt American exports. Consumer spending slowed sharply to 1.9% annually, below the average 2.3% increase since the recovery began in mid-2009. Business investment in structures such as mines shafts and wells fell 23.1% in the first quarter, reflecting lower spending by U.S. energy companies coping with cheaper oil. Other companies also cut back on investment as the surge in the dollar made U.S. goods and services more expensive to sell in other countries. Exports fell 7.2% while imports edged up 1.8%. Spending on new home construction, meanwhile, rose only 1.3% as severe weather hampered builders. Inventories increased by a surprisingly large $110.3 billion. Inflation as measured by the Personal Consumptino Expenditures price index fell at a 2% annual pace, though the core rate that excludes food and energy rose at a 0.9% annual pace. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-gdp-grows-a-scant-02-in-first-quarter-2015-04-29 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||