The KUIK Morning Market Report for Thursday, May 29: |
Markets are up. |
Index |
Direction |
Change |
Units |
Time |
Change |
Dow |
Up |
26 |
points |
16,660 |
6:59 AM |
S&P500 |
Up |
0.3% |
percent |
1,915 |
4.97 |
Nasdaq Composite |
Up |
0.4% |
percent |
4,241 |
15.81 |
30 Year Treasury |
Unchanged |
– |
Basis Points |
3.29 |
Annual Yield |
The Commerce Department reports gross domestic product, all goods and serves produced by the economy, fell at an annual rate of 1% in the first quarter 2014, down from an initial estimate of seasonally adjusted 0.1% growth. The decline in first-quarter growth is due mainly to lower investment in new housing, offices and plants. Business investment in structures was revised downward to a 7.5% drop instead of a 0.2% gain. Residential investment fell by 5%. |
Initial jobless claims fell by 27,000 to 300,000 in the week ended May 24, according to the Labor Department. Economists expected a seasonally adjusted 322,000. A year ago, new jobless claims were running around 350,000 a week. Continuing claims decreased by 17,000 to a seasonally adjusted 2.63 million in the week ended May 17. |
The American Petroleum Institute yesterday reported that crude supplies rose by 3.5 million barrels for the week ended May 23. Analysts surveyed by Platts forecast a rise of 1 million barrels. Gasoline stockpiles fell by 1.4 million barrels, and analysts were looking for drop of only 200,000 barrels. |
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. |
http://www.marketwatch.com/story/us-economy-contracted-1-in-first-quarter-2014-05-29 |
http://www.marketwatch.com/story/jobless-claims-near-post-recession-low-2014-05-29 |
http://www.marketwatch.com/story/api-data-show-crude-supply-up-35-million-barrels-2014-05-28 |
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