| The KUIK Morning Market Report for Friday, July 12: | |||||||
| Markets are mixed after yesterday’s big move. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 14 | points | 15,475 | 7:01 AM | ||
| S&P500 | Down | -0.02% | percent | 1,675 | (0.37) | ||
| Nasdaq Composite | Up | 0.08% | percent | 3,581 | 3.00 | ||
| 30 Year Treasury | Down | (3) | Basis Points | 3.60 | Annual Yield | ||
| U.S. wholesale prices surged in June for the second straight month as the cost of gasoline increased, but inflationary pressure remained subdued in other segments of the economy, according to the Labor Department. The producer price index rose a seasonally adjusted 0.8% last month. Economists expected 0.5%. The increase was the largest since last September and was the second month of a big gain. Prices were up 0.5% in May. The biggest mover was gasoline up 7.2%. | |||||||
| United Parcel Service is usually a good leading indicator on the economy. UPS cut its full-year earnings guidance, citing a slowing U.S. industrial economy and overcapacity in the global air freight market. | |||||||
| The preliminary July reading of the University of Michigan and Thomson Reuters consumer-sentiment index declined to 83.9 from a final June reading of 84.1, according to Friday news reports. Economists polled by MarketWatch had expected the preliminary July reading to remain at 84.1, close to the highest level in six years, thanks to positive jobs news, as well as rising prices for homes and stocks. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/wholesale-prices-surge-in-june-on-gas-spike-2013-07-12 | |||||||
| http://www.marketwatch.com/story/ups-cuts-full-year-earnings-guidance-2013-07-12 | |||||||
| http://www.marketwatch.com/story/umich-sentiment-declines-in-july-reports-2013-07-12 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||