| The KUIK Morning Market Report for Friday, October 31: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 134 | points | 17,329 | 7:02 AM | ||
| S&P500 | Up | 0.7% | percent | 2,010 | 14.85 | ||
| Nasdaq Composite | Up | 1.2% | percent | 4,620 | 54.00 | ||
| 30 Year Treasury | Up | 3 | Basis Points | 3.07 | Annual Yield | ||
| The Commerce Department reports that consumer spending dropped a seasonally adjusted 0.2%. Economists expected a 0.1% increase. That was the first drop this year, as consumers bought fewer cars and trucks and spent less on gasoline because of falling oil prices. Incomes rose, though the 0.2% increase in September was the smallest since the end of 2012. That money went into savings. The savings rate rose to 5.6% in September, up from 5.4%, and matching a two-year high. | |||||||
| Labor costs are going up according to the Labor Department. The employment cost index rose gain in the third quarter for he biggest back-to-back gain since 2008, up 0.7%. Economists expected only a 0.5% rise. Wages climbed by 0.8% and benefits rose 0.6%. | |||||||
| The Chicago Purchasing Managers Index rose to a one-year high in October, helped by gains in new orders, MNI Indicators said Friday. Chicago PMI rose to 66.2, a gain of 5.7 points, as the new-orders component jumped to 73.6. the report said with “concerns about weakening growth in Europe and China, the U.S. economy is still growing firmly.” | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/consumer-spending-slumps-in-september-2014-10-31 | |||||||
| http://www.marketwatch.com/story/us-businesses-face-rising-labor-costs-2014-10-31 | |||||||
| http://www.marketwatch.com/story/chicago-pmi-climbs-to-one-year-high-of-662-2014-10-31?link=MW_home_latest_news | |||||||
| For today’s Morning Market Report click to listen-> | |||||||