| The KUIK Market Update for Monday, May 13: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (33) | points | 15,086 | 7:56 AM | ||
| S&P500 | Down | -0.12% | percent | 1,632 | (1.94) | points | |
| Nasdaq Composite | Unchanged | 0.00% | percent | 3,437 | 0.16 | points | |
| 30 Year Treasury | Up | 2 | Basis Points | 3.13 | Annual Yield | ||
| The Commerce Department reports retail sales rose a seasonally adjusted 0.1% last month, a sign that consumer spending might not be as soft as expected. Economists polled by MarketWatch expected a 0.6% drop. Sales at gas stations sank 4.7% to mark the biggest decline in more than five years. | |||||||
| The Wall Street Journal reports federal investigators are looking into scrutiny of conservative groups by the Internal Revenue Service. The IRS looked for political leanings in applications for tax-exempt status. The Treasury Inspector General for Tax Administration is looking into it and is expected to release its report in the coming week. | |||||||
| The Commerce Department also reported business inventories were flat in March at a seasonally adjusted $1.64 trillion. That’s a 4.5% gain from the same period in 2012. Sales dropped 1.1% in March. | |||||||
| 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-01-in-april-2013-05-13 | |||||||
| http://www.marketwatch.com/story/irs-scrutinized-conservative-groups-review-finds-2013-05-12 | |||||||
| http://www.marketwatch.com/story/business-inventories-flat-in-march-2013-05-13 | |||||||
| For today’s Market Update Report click to listen-> | |||||||