The KUIK Morning Market Report for Tuesday, November 29:
Markets are mixed.
Index
Direction
Change
Units
Time
Dow
Down
(13)
points
19,085
7:13 AM
S&P500
Down
0.0%
percent
2,201
Nasdaq Composite
Up
0.1%
percent
5,373
30 Year Treasury
Unchanged
–
Basis Points
2.98
Annual Yield
The S&P/Case-Shiller 20-City index was up 0.1% in the three months ending in September, and is 5.1% higher than a year ago. The Pacific Northwest led, with Seattle 11% higher than a year ago, and Portland up 10.9%, though Spetember’s gains moderated with Seattle flat and Portland up 0.1%.
The Commerce Department reports the economy grew at the fastest pace in over two years in the third quarter, as consumers and government stepped up their spending and exports surged. Gross domestic product expanded at a 3.2% annual rate. That’s the strongest pace since the second quarter of 2014. Economists expected 3.1%. Consumer spending rose 2.8%, stronger than the original estimate of 2.1% and the strongest pace since 2002. Business investment expanded at a 10.1% pace, faster than the initial estimate of 5.4%. Corporate profits soared 6.6%, a better performance than the 0.6% decline in the second quarter.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
