Morning Market Report 6/26/2014 | Beacon Rock Wealth Advisors

The KUIK Morning Market Report for Thursday, June 26:
Markets are down.
Index	Direction	Change	Units	Time	Change
Dow	Down	(112)	points	16,756	6:59 AM
S&P500	Down	-0.6%	percent	1,947	(12.23)
Nasdaq Composite	Down	-0.5%	percent	4,356	(23.43)
30 Year Treasury	Down	(3)	Basis Points	3.35	Annual Yield
The Commerce Department reports consumer spending climbed 0.2% last month, mostly driven by new car sales. Economists expected a 0.4% increase. The weaker-than-expected increase could spur some forecasters to mark down their estimates for second-quarter growth. The U.S. was seen growing 3.8% in the April-to-June period, according to the most recent MarketWatch poll. Personal incomes rose 0.4% for the fifth straight gain.
The Labor Department reports initial claims for unemployment benefits fell by 2,000 to a seasonally adjusted 312,000 in the week that ended June 21. Economists expected 310,000. Continuing claims increased by 12,000 to a seasonally adjusted 2.57 million in the week ended June 14.
Inflation should move above 2% in 2015 and is likely to spark a heated debate at the U.S central bank about the level of interest rates, said St. Louis Fed President James Bullard in an interview on Fox Business today. Inflation is now “turning around” and should “move over 2% in 2015. The Fed will have to play its cards right to keep inflation contained, he said and the economy looks “pretty good” with the unemployment rate declining faster than expected.
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/story/consumers-splurge-on-cars-in-may-but-thats-it-2014-06-26
http://www.marketwatch.com/story/jobless-claims-still-near-post-recession-low-2014-06-26
http://www.marketwatch.com/story/feds-bullard-sees-inflation-above-2-in-2015-2014-06-26
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