| The KUIK Market Update for Wednesday, March 13: | |||||||
| Markets are flat. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (15) | points | 14,436 | 7:58 AM | ||
| S&P500 | Down | -0.01% | percent | 1,552 | (0.23) | points | |
| Nasdaq Composite | Down | -0.03% | percent | 3,241 | (1.11) | points | |
| 30 Year Treasury | Up | 2 | Basis Points | 3.24 | Annual Yield | ||
| The Commerce Department reports that retail sales rose 1.1% in February for the biggest gain in five months. Economists polled by MarketWatch expected a 0.7% rise. The figures suggest that consumer spending is holding steady despite a spike in gasoline prices and higher payroll taxes in 2013. | |||||||
| The International Energy Agency Wednesday continued to lower its forecast for global oil demand while increasing its expectations of supply growth for this year. Since January, the Paris-based energy watchdog has cut 200,000 barrels a day from its forecast for oil demand in 2013 and added 200,000 barrels a day to its expectations of supply growth from countries outside OPEC. A shale oil boom in the U.S. has contributed to a steep increase in non-OPEC supply and the IEA also said there are prospects that ann additional 200,000 barrels a day could return to the market by the end of the year if South Sudan resumes exports. Let’s hope we see some relief at the pumps. | |||||||
| Twinkies aren’t going away. Marketwatch reports. Hostess Brands said it will sell its Twinkies and Dolly Madison snack cake businesses to Apollo Global Management a and Metropoulos & Co. for $410 million. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-retail-sales-climb-11-in-february-2013-03-13-9103322 | |||||||
| http://www.marketwatch.com/story/iea-sees-weaker-oil-demand-growth-more-supply-2013-03-13-54852753 | |||||||
| http://blogs.marketwatch.com/thetell/2013/03/12/twinkies-sold-to-apollo-global-management-metropoulos-for-410-million/ | |||||||
| For today’s Morning Market Report click to listen-> | https://beaconrwa.com/audio/Market-Update-Report.mp3 | ||||||