| The KUIK Morning Market Report for Wednesday, July 31: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 44 | points | 15,565 | 7:06 AM | ||
| S&P500 | Up | 0.29% | percent | 1,691 | 4.85 | ||
| Nasdaq Composite | Up | 0.46% | percent | 3,634 | 17.00 | ||
| 30 Year Treasury | Up | 6 | Basis Points | 3.73 | Annual Yield | ||
| ADP reports private-sector employers added a stronger-than-expected 200,000 jobs in July, beating economists’ expectations as businesses of all sizes gained jobs in the month. Analysts expected only 185,000. | |||||||
| The U.S. economy grew 1.7% in the second quarter, aided by solid consumer spending and a ramp-up in business investment, according to the Commerce Department. Economists polled by Marketwatch expected 1%. The Commerce Department has made changes to how it calculates gross domestic product, designed to have the data better reflect the so-called knowledge economy. The U.S. government adjusted data all the way back to 1929. The benchmark revision takes place about twice a decade, also showed the economy grew faster in 2012 than previously estimated at 2.8% instead of vs. 2.2%. Higher consumer spending and more farm production helped improve performance. | |||||||
| The Federal Reserve will announce its decision on interest rates today at 11:00 am pacific time after its two day meeting. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/private-sector-adds-200000-jobs-in-july-2013-07-31 | |||||||
| http://www.marketwatch.com/story/us-economy-grows-17-in-second-quarter-2013-07-31 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||