| The KUIK Morning Market Report for Friday, January 31: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (191) | points | 15,660 | 7:02 AM | ||
| S&P500 | Down | -0.91% | percent | 1,778 | (16.32) | ||
| Nasdaq Composite | Down | -0.84% | percent | 4,089 | (34.53) | ||
| 30 Year Treasury | Down | (3) | Basis Points | 3.60 | Annual Yield | ||
| The Commerce Department reports December consumer spending rose a seasonally adjusted 0.4%. Economists expected a 0.2% gain. December’s increase follows an upwardly revised 0.6% gain in November. The pace of spending in the last two months of the year marked the strongest back-to-back increase since the first two months of 2012. During the month, Americans spent more on services, but they bought fewer long-lasting items like cars and appliances. Purchases of durable goods fell 1.4%, for the first drop in three months. | |||||||
| The Bureau of Labor statistics reports the employment cost index, which measures the price of U.S. labor, rose 0.5% in the fourth quarter. Economists expected a seasonally adjusted 0.4% gain, which follows 0.4% increase in the third quarter. Wages which are 70% of employment costs – rose 0.6% in the fourth quarter. and benefits also advanced 0.6%. | |||||||
| March crude oil fell 1%, to $97.25 a barrel on the New York Merc, but is still up 0.6% for the week, as demand for heating oil stays strong in the cold weather. March natural gas fell 2.3% today, which follows an 8% drop yesterday. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/consumer-spending-up-sharply-in-december-2014-01-31 | |||||||
| http://www.marketwatch.com/story/fourth-quarter-employment-cost-index-rises-05-2014-01-31 | |||||||
| http://www.marketwatch.com/story/oil-edges-lower-natural-gas-retreats-further-2014-01-31?dist=markets | |||||||
| For today’s Morning Market Report click to listen-> | |||||||