The KUIK Morning Market Report for Monday, October 30:
Markets are mixed.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(44)
points
23,390
7:02 AM
S&P500
Down
-0.2%
percent
2,577
(3.91)
Nasdaq Composite
Up
0.2%
percent
6,712
10.77
30 Year Treasury
Down
(3)
Basis Points
2.91
Annual Yield
The Commerce Department reports consumer spending rose 1% in September, for the biggest gain since 2009, when the economic recovery got underway. Economists expected a 0.9% increase due to hurricane-related spending. Personal incomes rose 0.4%, but the savings rate fell to 3.1% to the lowest level since December 2007.
An Apple engineer has apparently learned the hard way that the tech giant takes product leaks very seriously. In a tearful video posted Saturday, vlogger Brooke Peterson said her dad lost his job after he let her take video of the new iPhone X. In an earlier YouTube video that went viral last week, Peterson recorded herself visiting Apple’s Cupertino, Calif., campus where her father worked. In that video, he is seen handing her his phone, and she spends about 45 seconds checking out features of the highly anticipated new smartphone. Apple forbids unauthorized filming on its campus, and is notoriously strict against leaks of unreleased products, employing a giant security team that includes former members of the FBI and National Security Agency.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.