| The KUIK Market Update for Thursday, June 26: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (89) | points | 16,778 | 7:51 AM | ||
| S&P500 | Down | -0.5% | percent | 1,949 | (10.56) | ||
| Nasdaq Composite | Down | -0.5% | percent | 4,358 | (21.89) | ||
| 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. | |||||||
| The Supreme Court today limited the president’s power to make recess appointments to government positions. The court said that President Obama lacked authority to fill seats on the National Labor Relations Board in 2012. The court said there was no recess when Obama acted, and that Congress decides when it is in recess. The vote of the justices was unanimous. | |||||||
| 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/supreme-court-limits-presidents-recess-appointment-power-2014-06-26 | |||||||
| For today’s Market Update Report click to listen-> | |||||||