| The KUIK Market Update for Wednesday, May 15: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (5) | points | 15,211 | 8:01 AM | ||
| S&P500 | Up | 0.07% | percent | 1,651 | 1.10 | points | |
| Nasdaq Composite | Up | 0.20% | percent | 3,469 | 23.82 | points | |
| 30 Year Treasury | Down | (0) | Basis Points | 3.16 | Annual Yield | ||
| U.S. wholesale prices dropped in April for the second straight month as the cost of gasoline and vegetables fell. The Labor Department reported the producer-price index declined by a seasonally adjusted 0.7% for the biggest drop in three years. That met expectations is following a 0.6% drop in March. Fuel fell 2.5%, led by a 6.0% drop in gasoline prices. Electricity and home-heating-fuel costs also eased, though natural-gas posted the biggest increase since mid-2008. The price of food, meanwhile, fell 0.8% in April after being up .8% in March. | |||||||
| The National Association of Home Builders/Wells Fargo housing-market index rose to 44 in May from 41 in April, in line with estimates. Despite the rise, the overall sentiment gauge remains below 50, shwing that builders somewhat pessimistic about sales trends. The last time the index reached above 50 was in 2006. | |||||||
| The Federal Reserve reported nationwide industrial production fell 0.5% in April, dragged lower by a big drop in utilities output but also by a drop in manufacturing. Economists polled by MarketWatch expected a drop of only 0.3% | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-wholesale-prices-fall-sharply-in-april-2013-05-15-81034825 | |||||||
| http://www.marketwatch.com/story/home-builder-confidence-rises-in-may-2013-05-15-10103177?dist=lcountdown | |||||||
| http://www.marketwatch.com/story/industrial-production-drops-05-in-april-2013-05-15 | |||||||
| For today’s Market Update Report click to listen-> | |||||||