| The KUIK Market Update for Wednesday, June 24: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (60) | points | 18,084 | 7:36 AM | ||
| S&P500 | Down | 0.0% | percent | 2,124 | (0.66) | ||
| Nasdaq Composite | Up | 0.0% | percent | 5,161 | 1.04 | ||
| 30 Year Treasury | Down | (3) | Basis Points | 3.17 | Annual Yield | ||
| The Commerce Department repors the U.S. economy contracted by a revised 0.2% in the first quarter, a smaller drop than previously reported due to higher consumer spending and a lower drop in exports. The increase in consumer spending was revised to 2.1% from 1.8%. Inflation as measured by the Personal Consumption Expenditures price index fell at a 2% annual rate, but the core rate that excludes food and energy was up 0.8%. | |||||||
| U.S. Bank will pay $44.5 million to settle a lawsuit brought by former customers of brokerage Peregrine Financial Group, which failed in 2012 after the largest U.S. embezzlement ever by its CEO, according to a report in Reuters. Peregrine’s founder Russell Wasendorf stole customer funds from a U.S. Bank account that was supposed to be used only for the benefit of customers. The bank was accused of fraud by omission, breach of fiduciary duty, and aiding and abetting violations of the Commodity Exchange Act. Wasendorf is serving a 50-year sentence after pleading guilty to embezzling more than $215 million from thousands of customers in a nearly 20-year fraud. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/first-quarter-gdp-revised-to-show-smaller-02-decline-2015-06-24 | |||||||
| http://www.marketwatch.com/story/sec-reportedly-chasing-hackers-looking-to-conduct-insider-trading-2015-06-24 | |||||||
| For today’s Market Update Report click to listen-> | |||||||