| The KUIK Morning Market Report for Friday, July 31: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (43) | points | 17,703 | 7:03 AM | ||
| S&P500 | Down | 0.0% | percent | 2,109 | (0.05) | ||
| Nasdaq Composite | Up | 0.1% | percent | 5,135 | 6.61 | ||
| 30 Year Treasury | Down | (4) | Basis Points | 2.91 | Annual Yield | ||
| The employment cost index which measures how much companies pay their employees in wages and benefits rose only 0.2% in the second quarter after a 0.7% increase in the first. That was an all-time low for the series going back to 1982 and below forecasts. Economists expected a 0.6% gain. It is up 2.0% on an annual basis, down from first-quarter’s 2.6% annual rate, for the slowest rise since the second quarter of 2014. | |||||||
| The Chicago Purchasing Managers Index rose in July to the highest level since January, suggesting a pickup in business during the summer. MNI Indicators said the index climbed to 54.7 points in July up from 49.4 in June. This is the last of the regional manufacturing gauges before the release of the national Institute for Supply Management poll on Monday. | |||||||
| August gold erased early weakness to gain 0.1%, to $1,089.60 an ounce on that employment cost report. Because it lowers the chance of the fed raising rates anytime soon. Gold is on track to end July with a 7.1% monthly loss, steepest drop since June 2013, according to FactSet. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-employment-cost-index-decelerates-sharply-in-second-quarter-2015-07-31 | |||||||
| http://www.marketwatch.com/story/chicago-pmi-shows-big-improvement-in-july-business-conditions-2015-07-31 | |||||||
| http://www.marketwatch.com/story/gold-on-track-for-biggest-monthly-drop-in-2-years-2015-07-31?dist=markets | |||||||
| For today’s Morning Market Report click to listen-> | |||||||