| The KUIK Market Update for Friday, July 12: | |||||||
| Markets are flat after yesterday’s big up move. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 17 | points | 15,477 | 8:07 AM | ||
| S&P500 | Up | 0.01% | percent | 1,675 | 0.12 | ||
| Nasdaq Composite | Up | 0.13% | percent | 3,583 | 4.57 | ||
| 30 Year Treasury | Down | (2) | Basis Points | 3.61 | Annual Yield | ||
| U.S. wholesale prices surged in June for the second straight month. 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. The biggest mover was gasoline up 7.2%. | |||||||
| August Gold dropped 0.8%, to trade at $1,269.60 an ounce in electronic trading. Yesterday, gold prices jumped 2.6%, on the Comex division of the New York Merc. The metal’s best week since the end of June came as the U.S. dollar dropped against other major currencies following comments by Federal Reserve Chairman Bernanke that the central bank isn’t in a hurry to raise interest rates, even after unemployment reaches the Fed’s target of 6.5%. | |||||||
| The preliminary July reading of the University of Michigan and Thomson Reuters consumer-sentiment index fell to 83.9 from June’s final read of 84.1. Economists expected July to be at 84.1, near 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/gold-prices-poised-for-first-weekly-rise-in-four-2013-07-12?dist=markets | |||||||
| http://www.marketwatch.com/story/umich-sentiment-declines-in-july-reports-2013-07-12 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||