| The KUIK Market Update for Friday, May 15: | |||||||
| Markets are flat. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (11) | points | 18,241 | 7:46 AM | ||
| S&P500 | Down | -0.2% | percent | 2,118 | (3.13) | ||
| Nasdaq Composite | Down | -0.1% | percent | 5,047 | (3.73) | ||
| 30 Year Treasury | Down | (10) | Basis Points | 2.96 | Annual Yield | ||
| The New York Federal Reserve Bank reports the Empire State manufacturing index moved back into positive territory in May. The first read on manufacturing conditions for the month, moved up to 3.1 from negative 1.2 in April. Economists expected 5.5. Orders also rose ten points into positive territory while shipments were steady. The prices-paid index fell to its lowest level in almost three years. There is little optimism among manufacturers. The six-month outlook worsened to 29.8 in May from 37.1 in April, not far above a two-year low of 25.6 hit in February. | |||||||
| Consumer sentiment fell to a preliminary May reading of 88.6, a seven-month low, compared with a final April level of 95.9, according to the University of Michigan Consumer Sentiment Index. Economists expected a May reading of 94.5. Economists follow consumer confidence for clues about future consumer spending. Consumer sentiment averaged 86.9 over the year leading up to the 2008 recession. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/empire-state-factory-gauge-rebounds-slightly-to-31-in-may-2015-05-15 | |||||||
| http://www.marketwatch.com/story/may-umich-sentiment-falls-to-886-a-seven-month-low-reports-say-2015-05-15 | |||||||
| For today’s Market Update Report click to listen-> | |||||||