| The KUIK Market Update for Friday, July 24: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (55) | points | 17,677 | 7:34 AM | ||
| S&P500 | Down | -0.4% | percent | 2,095 | (7.34) | ||
| Nasdaq Composite | Down | -0.2% | percent | 5,138 | (8.79) | ||
| 30 Year Treasury | Down | (1) | Basis Points | 2.97 | Annual Yield | ||
| Here in the US, the preliminary reading of the Markit manufacturing purchasing managers index rose slightly to 53.8 in July up from a 20-month low of 53.6 in June. The rebound was led by stronger output and order growth. Readings above 50 indicate improving conditions. | |||||||
| House Speaker John Boehner, said yesterday that there won’t be a federal-government shutdown this year, and Congress will work on a temporary spending measure in September, once lawmakers return from their summer recess. The measure will be needed to avoid the Sept. 30 deadline, but details haven’t been decided. Analysts estimate that Congress will have to raise the debt ceiling sometime in next two months. | |||||||
| The Caixin China Manufacturing Purchasing Managers’ Index’s initial fell to 48.2 in July, down from 49.4 in June, indicating the world’s second-largest economy is slowing. Output, new orders, new export orders, and employment all fell. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-markit-flash-pmi-rises-to-538-in-july-from-20-month-low-in-june-2015-07-24 | |||||||
| http://www.marketwatch.com/story/house-speaker-boehner-there-will-not-be-a-government-shutdown-2015-07-23 | |||||||
| http://www.marketwatch.com/story/china-manufacturing-activity-hits-15-month-low-2015-07-24 | |||||||
| For today’s Market Update Report click to listen-> | |||||||