| The KUIK Market Update for Friday, February 28: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 91 | points | 16,364 | 8:00 AM | ||
| S&P500 | Up | 0.57% | percent | 1,865 | 10.54 | ||
| Nasdaq Composite | Up | 0.35% | percent | 4,334 | 15.06 | ||
| 30 Year Treasury | Up | 3 | Basis Points | 3.63 | Annual Yield | ||
| The Chicago Purchasing Managers Index accelerated in February. It rose to 59.8 in February from 59.6 in January, beating expectations of 56. A gain in employment offset declines in new orders, production and order backlogs. A reading above 50 indicates expansion. The report confirms that the U.S. economic recovery continued in February. | |||||||
| European stock markets saw mostly moderate losses after better-than-expected inflation data eased pressure on the European Central Bank to cut rates at its meeting next week. The Stoxx Europe 600 index fell 0.2% to 336.53. Its gain for February was 4.4%. Inflation remained at 0.8% and unemployment at 12%. | |||||||
| Bitcoin exchange Mt. Gox says it is filing for bankruptcy protection and that 750,000 of its customers’ bitcoins and 100,000 of its own had been lost. At market prices charted by the CoinDesk bitcoin index, that would represent a loss of $473 million. The company’s lawyer also said at a news conference at the Tokyo District Court that Mt. Gox had outstanding debt of about $63.6 million and assets of $40 million. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/chicago-pmi-accelerates-in-february-2014-02-28?link=MW_story_latest_news | |||||||
| http://www.marketwatch.com/story/european-stocks-slip-ahead-of-inflation-data-2014-02-28?dist=markets | |||||||
| http://www.marketwatch.com/story/mt-gox-loses-customers-bitcoins-files-for-bankruptcy-2014-02-28 | |||||||
| For today’s Market Update Report click to listen-> | |||||||