| The KUIK Market Update for Friday, February 27: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (16) | points | 18,198 | 7:50 AM | ||
| S&P500 | Up | 0.0% | percent | 2,112 | 0.82 | ||
| Nasdaq Composite | Down | -0.1% | percent | 4,986 | (2.35) | ||
| 30 Year Treasury | Up | 1 | Basis Points | 2.62 | Annual Yield | ||
| The Commerce Department reports gross domestic product grew at a revised 2.2% in the 4th quarter of 2014, down from an original estimate of 2.6%. Inventories increased by only $88.4 billion instead of $113.1 billion. Consumer spending was still strong, up 4.2% for the biggest increase since 2010. Inflation fell to 0.4% annually, while the core rate excluding food and energy increased at 1.1%. For all of 2014, the U.S. economy grew 2.4%, compared to 2.2% in 2013, and 2.3% in 2012. | |||||||
| MNI Indicators reports February’s Chicago Purchasing Managers Index fell to a five-and-a-half year low of 45.8, down from 59.4 in January and below the 50 mark indicating contraction, came after double-digit drops in production, new orders, order backlogs, and employment. The West Coast port strike and the harsh winter probably hurt the index. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-fourth-quarter-gdp-trimmed-to-22-from-26-2015-02-27 | |||||||
| http://www.marketwatch.com/story/chicago-pmi-tumbles-to-five-and-half-year-low-in-february-2015-02-27 | |||||||
| For today’s Market Update Report click to listen-> | |||||||