| The KUIK Market Update for Friday, August 28: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (69) | points | 16,586 | 8:27 AM | ||
| S&P500 | Up | 0.15% | percent | 1,991 | 3.02 | ||
| Nasdaq Composite | Up | 0.39% | percent | 4,831 | 18.69 | ||
| 30 Year Treasury | Unchanged | – | Basis Points | 2.90 | Annual Yield | ||
| The Commerce Department reports consumer spending in the U.S. rose 0.3% in July. Economists expected a 0.4% increase and June was revised up slightly. Personal income rose 0.4% for the fourth straight month. Wages and salaries rose 0.5% in July, the biggest gain since November. | |||||||
| In China, the government stepped in for more stock buying to support the market. The Shanghai Composite closed up 4.8% at 3,232.35. But big drops on Monday and Tuesday left the market down nearly 8% for the week. | |||||||
| Noel Biderman, the 44-year-old Avid Life Media chief executive officer who runs the controversial extramarital dating site Ashley Madison, has stepped down, effective immediately.This follows a major hack on the website that led to the leaking of data on millions of uses. The company, which faces lawsuits, said it is “actively adjusting to the attack” and cooperating with international law enforcement. Before the breach, Avid Media had been planning to raise up to $200 million in an initial public offering. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-consumer-spending-climbs-03-in-july-2015-08-28 | |||||||
| http://www.marketwatch.com/story/asian-markets-ride-tide-of-strong-us-growth-2015-08-28 | |||||||
| http://www.marketwatch.com/story/ashley-madison-ceo-noel-biderman-steps-down-2015-08-28-10913635 | |||||||
| For today’s Market Update Report click to listen-> | |||||||