I’ll post the daily Market Report and Market Analysis
after the close. Here’s some news...
CHICAGO PMI (MarketWatch)
“Chicago PMI in August surged to a reading of 64.3 from
52.6 in July…We had speculated that July's downturn would prove temporary
rather than signal the start of a downward trend…[this]…suggests that growth in
the U.S. economy will continue apace in Q3," said Philip Uglow, chief
economist of MNI Indicators…” Story at… http://www.marketwatch.com/story/chicago-pmi-surges-to-643-in-august-regaining-lost-ground-2014-08-29
MICHIGAN CONSUMER CONFIDENCE (Fox Business)
The Thomson Reuters/University of Michigan's final August
reading on the overall index on consumer sentiment came in at 82.5, up from
81.8 the month before…"Consumer confidence rebounded in late August due to
a positive reassessment of prospects for the national economy," survey
director Richard Curtin said in a statement.http://www.foxbusiness.com/economy-policy/2014/08/29/consumer-sentiment-rises-in-august/
PERSONAL SPENDING (Briefing.com)
Personal spending fell 0.1% in July after increasing 0.4%
in June. That was the first decline in spending since January. The consensus
expected personal spending to increase 0.1%...consumers are continuing to delay
consumption growth in order to increase their savings…Without an acceleration
in income growth, sustainable consumption growth will be difficult.” Charts and
details at…https://www.briefing.com/Investor/Calendars/Economic/Releases/income.htm
UKRAINE SAYS RUSSIA INVADING (Reuters)
“Ukraine's president said on Thursday that Russian troops
had entered his country in support of pro-Moscow rebels who captured a key
coastal town, sharply escalating a separatist war and prompting anger and alarm
among Kiev's Western allies. U.S. and British officials took strong issue with
Russia's denials it had sent combat forces into Ukraine and threatened to impose stiffer
economic sanctions on Moscow.” Story at… http://www.reuters.com/article/2014/08/28/us-ukraine-crisis-idUSKBN0GS10C20140828
