| The KUIK Market Update for Wednesday, July 30: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (84) | points | 16,829 | 8:06 AM | ||
| S&P500 | Down | -0.3% | percent | 1,965 | (5.33) | ||
| Nasdaq Composite | Up | 0.1% | percent | 4,448 | 5.60 | ||
| 30 Year Treasury | Up | 4 | Basis Points | 3.27 | Annual Yield | ||
| Gross domestic product grew at a 4% annual clip in the second quarter, according to the Commerce Department. Economists expected 3.2%. First quarter GDP was revised upward to a 2.1% drop up from a 2.9% decline. | |||||||
| ADP reports employers added 218,000 private-sector jobs this month, down from 281,000 in June. This is the fourth straight month of job growth above 200,000. Economists polled by Dow Jones expected 235,000. | |||||||
| The stock market gave back its gains from this morning’s open. Investors are concerned that the Federal Reserve might start raising interest rates sooner than anticipated following a much stronger pace of economic growth in the second quarter. Investors are also looking to results of the Federal Reserve’s meeting and the policy statement due at 11 a.m. Pacific Time. Economists expect the central bank to reduce the monthly pace of its bond purchases by another $10 billion to $25 billion, and to signal that it intends to end quantitative easing in October. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/economy-snaps-back-grows-4-in-spring-2014-07-30 | |||||||
| http://www.marketwatch.com/story/private-sector-job-growth-tops-200000-for-fourth-month-adp-2014-07-30 | |||||||
| http://www.marketwatch.com/story/us-markets-futures-up-with-twitter-gdp-fed-in-focus-2014-07-30 | |||||||
| For today’s Market Update Report click to listen-> | |||||||