The KUIK Morning Market Report for Tuesday, December 5:
Markets are mixed.
Dow Jones Industrial Average
30 Year Treasury
The Commerce Department reports the trade deficit for October jumped 8.6% to a ninth-month high of $48.7 billion up from $44.9 billion. Imports climbed 1.6% to a record $244.6 billion. Exports were unchanged at $195.9 billion. Nearly half of the increase in the trade deficit was tied to larger imports of oil at higher prices. The average cost of a barrel of oil rose above a two-year high of $47.26. Non-petroleum imports also set a new high. Goods like cell phones and high definition televisions imported from China, Mexicom and the European Union all hit records.
The price of a single bitcoin rose 5.8% today, hitting a record of $11,855.73. The brings bitcoin’s total market capitalization above $200 billion for the first time ever, according to website CoinMarketCap. Bitcoin first topped $100 billion in October. The combined market cap of all cryptocurrencies is $356.9 billion. At its current size, bitcoin is now bigger than all but 23 components of the S&P 500.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.