| The KUIK Market Update for Wednesday, April 29: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (59) | points | 18,051 | 2:04 PM | ||
| S&P500 | Down | -0.4% | percent | 2,107 | (7.91) | ||
| Nasdaq Composite | Down | -0.6% | percent | 5,024 | (31.78) | ||
| 30 Year Treasury | Up | 7 | Basis Points | 2.74 | Annual Yield | ||
| The Commerce Department reports the U.S. economy grew at a 0.2% annual pace in the first quarter of 2015. Enduring winter weather, a port strike, and a soaring dollar that hurt American exports. Consumer spending slowed sharply to 1.9% annually, below the average 2.3% increase since the recovery began in mid-2009. Business investment in structures such as mines shafts and wells fell 23.1% in the first quarter, reflecting lower spending by U.S. energy companies coping with cheaper oil. Other companies also cut back on investment as the surge in the dollar made U.S. goods and services more expensive to sell in other countries. Exports fell 7.2% while imports edged up 1.8%. | |||||||
| The Federal ends its two-day meeting today. The Federal Open Market Committee will release its statement at 11 am Pacific time. There will be not be a press conference. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-gdp-grows-a-scant-02-in-first-quarter-2015-04-29 | |||||||
| For today’s Market Update Report click to listen-> | |||||||