The KUIK Morning Market Report for Monday, July 17:
Markets are flat.
Dow Jones Industrial Average
30 Year Treasury
The New York Federal Reserve Bank’s Empire State manufacturing index fell to a seasonally adjusted reading of 9.8 from 19.8 in June. Economists expected 15. Readings above zero indicate improving conditions. New orders, shipments, inventories, delivery times, and number of employees all fell. The index has been positive for six out of seven months so far this year.
In 22 of the 44 states with lotteries, revenue declined between 2014 and 2015, the most recent year for comprehensive data, according to a report fom the Pew Charitable Trusts. Twenty-one states had declines from 2013 to 2014. The research blamed “jackpot fatigue,” which is a drop-off in regular lottery play until the pot reaches headline-making size. Demand is also in retreat as fewer millennials play and because of competition from other forms of gambling, especially casinos. Some states have increasingly allowed video slot machines in bars and restaurants.Combined revenue in the 44 states that have lotteries was about $21.4 billion in 2015. But that’s a small part of the $2.2 trillion that states raised by all methods in 2015.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.