| The KUIK Market Update for Thursday, June 27: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 162 | points | 15,071 | 7:42 AM | ||
| S&P500 | Up | 0.99% | percent | 1,619 | |||
| Nasdaq Composite | Up | 0.99% | percent | 3,410 | |||
| 30 Year Treasury | Down | (3) | Basis Points | 3.54 | Annual Yield | ||
| The Department of Labor reported the number of people who applied for initial state unemployment insurance benefits fell 9,000 to 346,000 in the week that ended June 22. Economists expected a seasonally adjusted 345,000 down from an original estimate of 354,000. | |||||||
| Consumer spending in the U.S. rose 0.3% in May and personal incomes rose even faster, according to the Commerce Department. The increase in spending last month reverses a 0.3% decline in April, which had been the biggest drop in four years. Personal incomes rose 0.5% | |||||||
| The spike in bond yields over the past month are “larger” than would be justified by any “reasonable reassessment” of the path of Federal Reserve policy, said Fed Gov. Jerome Powell on today. “In particular, the reaction of the forward and futures markets for short-term rates appears out of keeping with my assessment of the Fed’s intentions, given its forecasts,” Powell said in a speech at The Bipartisan Policy Center. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/initial-jobless-claims-fall-9000-to-346000-2013-06-27 | |||||||
| http://www.marketwatch.com/story/consumer-spending-climbs-03-in-may-2013-06-27 | |||||||
| http://www.marketwatch.com/story/feds-powell-market-rate-moves-not-justifiable-2013-06-27-10912952 | |||||||
| For today’s Market Update Report click to listen-> | |||||||