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The KUIK Market Update for Monday, January 29: |
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Markets are down. |
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Index |
Direction |
Change |
Units |
Index |
Time |
Change |
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Dow Jones Industrial Average |
Down |
(108) |
points |
26,509 |
7:50 AM |
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S&P500 |
Down |
-0.5% |
percent |
2,857 |
0.84 |
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Nasdaq Composite |
Down |
-0.5% |
percent |
7,466 |
(0.46) |
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30 Year Treasury |
Up |
4 |
Basis Points |
2.95 |
Annual Yield |
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After the weekend release of a National Security draft plan proposing taking over a portion of the 5G network to prevent Chinese hacking, Federal Communications Commission Chairman Ajit Pai said he’s against such a move. He said "The main lesson to draw from the wireless sector’s development over the past three decades — including American leadership in 4G — is that the market, not government, is best positioned to drive innovation and investment." |
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The Commerce Department reports consumer spending rose 0.4% in December,for the biggest increase in buying by households since 2011. But that was below the 0.5% expected by economists. Incomes rose 0.4% and advanced 3.1% for the full year, that gain was a smaller 1.2% if inflation is taken into account which makes it the lowest reading since 2010. Households drew down their savings to fund purchases. The savings rate fell to 2.4%, the lowest level since 2005. The Personal Consumption Expenditures index, which is the Federal Reserve’s preferred inflation gauge, edged up 0.1%. |
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For a free Social Security and Retirement Analysis go to brcapitalinc.com/kuik. Serving the West Side first, I am Bill Roller for 1360 KUIK. |
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www.marketwatch.com/story/fcc-chairman-says-hes-against-5g-nationalization-2018-01-29 |
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For today’s Market Update Report click to listen-> |
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