| The KUIK Market Update for Monday, March 2: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 112 | points | 18,244 | 8:09 AM | ||
| S&P500 | Up | 0.4% | percent | 2,112 | 7.50 | ||
| Nasdaq Composite | Up | 0.6% | percent | 4,994 | 30.93 | ||
| 30 Year Treasury | Up | 5 | Basis Points | 2.65 | Annual Yield | ||
| The Commerce Department reports consumer spending in January fell a seasonally adjusted 0.2%. That’s the first time it has fallen for two months in a row since early 2009, as Americans paid less for gasoline and saved more. Personal incomes rose 0.3%. Economists expected a 0.1% decrease in spending and a 0.4% gain in incomes. The savings rate climbed to 5.5% from 5% in December. Inflation measured by the Personal Consumption Expenditures price index decreased 0.5% in January and is up only 0.2% in the past year. | |||||||
| The Institute for Supply Management said its manufacturing index fell to 52.9 in February, down from 53.5 in January. That’s the fourth drop in a row, but it met expectations, and was above the 50 level indicating expansion. Many purchasing managers commented that the now-settled West Coast port strike “seriously impacted supply chain logistics” and raises the possibility that manufacturing could bounce back in March. | |||||||
| April gold is off 0.1%, to $1,211.90 an ounce on the Comex after gaining almost 1.3% over the past three trading sessions. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/consumer-spending-drops-for-second-straight-month—first-time-since-2009-2015-03-02 | |||||||
| http://www.marketwatch.com/story/ism-manufacturing-slows-in-february-for-fourth-month-2015-03-02?link=MW_home_latest_news | |||||||
| http://www.marketwatch.com/story/heavy-economic-data-flow-set-to-tweak-gold-2015-03-02?dist=markets | |||||||
| For today’s Market Update Report click to listen-> | |||||||