| The KUIK Morning Market Report for Friday, August 28: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (44) | points | 16,610 | 7:04 AM | ||
| S&P500 | Down | -0.14% | percent | 1,985 | (2.79) | ||
| Nasdaq Composite | Down | -0.15% | percent | 4,805 | (7.37) | ||
| 30 Year Treasury | Down | (3) | Basis Points | 2.87 | 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. | |||||||
| Core inflation moderated in July, giving the Federal Reserve another reason to hold short-term interest rates steady at their September policy meeting. The personal consumption expenditures index grew just 0.3% in the 12 months ending July. The core gauge grew 1.2%, down from the 1.3% pace over the first six months of the year. The Fed’s target is 2%. | |||||||
| 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. | |||||||
| 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/core-inflation-eases-in-july-and-moves-further-away-from-feds-target-2015-08-28 | |||||||
| http://www.marketwatch.com/story/asian-markets-ride-tide-of-strong-us-growth-2015-08-28 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||