Market Update Report 11/17/2017

The KUIK Market Update for Friday, November 17:
Markets are down.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Down (75) points 23,387 7:39 AM
S&P500 Down -0.2% percent 2,581 F
Nasdaq Composite Down -0.1% percent 6,785 F
30 Year Treasury Down (1) Basis Points 2.79 Annual Yield
The Commerce Department reports housing starts for October rose 13.7% to a seasonally adjusted annual rate of 1.29 million. Economists expected a 1.2 million rate. Big gains came in the South and the Midwest, partly due to the recovery from hurricanes. The Northeast was the biggest mover, up 42%, but that’s the smallest region for activity. Single-family starts rose 5.3%, and starts with five or more units were up 37.4%.
Treasury Department today called for an overhaul of the process for designating financial institutions as systemically important, a postcrisis label that subjects firms to stricter regulatory oversight. The report’s recommendations include reviewing the asset threshold for what defines a large financial institution, currently set at $50 billion and allowing companies targeted for the designation to make changes before additional supervision is applied and says a cost-benefit analysis should be part of the process.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
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