Market Update Report 8/1/2013 | Beacon Rock Wealth Advisors

The KUIK Market Update for Thursday, August 1:

Markets are up.

Index	Direction	Change	Units	Last	Time	Change
Dow	Up	112	points	15,612	8:08 AM
S&P500	Up	0.98%	percent	1,702		16.45
Nasdaq Composite	Up	1.01%	percent	3,663
30 Year Treasury	Up	7	Basis Points	3.72	Annual Yield

The Labor Department reported initial jobless claims dropped by 19,000 to a seasonally adjusted 326,000 in the week ended July 27, the lowest level in five and a half years. Economists surveyed by MarketWatch expected 345,000.

The Institute for Supply Management said its July manufacturing index surged to a reading of 55.4% vs. 50.9% in June, the highest level since June 2011. Economists polled by MarketWatch expected 52.0%.

Outlays for construction projects unexpectedly declined in June according to the Commerce Department. Construction spending fell 0.6% in June to an annualized rate of $883.9 billion below analysts’ expectations of a 0.5% gain and the biggest drop in five months. May construction spending was upwardly revised to 1.3% growth from the initial read of a gain of 0.5%. Both private and public spending fell in June



Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.

http://www.marketwatch.com/story/us-jobless-claims-drop-19000-to-326000-2013-08-01-81034326
http://www.marketwatch.com/story/ism-manufacturing-index-surges-in-july-2013-08-01?dist=lcountdown
http://www.marketwatch.com/story/june-construction-spending-drops-unexpectedly-2013-08-01?dist=lcountdown


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