Closing Market Report 9/21/2017

The KUIK Closing Market Report for Thursday, September 21:
Markets finished mixed.
Index Direction Change Units Index Time Change
Dow Down (52) points 22,360 1:09 PM
S&P500 Down -0.3% percent 2,501 (7.64)
Nasdaq Composite Down -0.5% percent 6,423 (33.35)
30 Year Treasury Down (1) basis points 2.81 Annual Yield
The Federal Reserve said today that the net worth of households and nonprofits rose by 1.7%, or $1.7 trillion, to $96.2 trillion, as the value of stockss rose by $1.1 trillion and real estate rose by about $600 billion. But an earlier report from the Federal Reserve says that less than half of all families hold stocks. Household debt grew at a 3.7% annual rate, driven by student and auto loans. Mortgage debt excluding charge-offs rose 2.8%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/household-net-worth-climbs-by-17-trillion-as-stock-market-rises-2017-09-21
For today’s Closing Market Report click to listen->

Market Update Report 9/21/2017

The KUIK Market Update for Thursday, September 21:
Markets are down.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Down (34) points 22,378 7:32 AM
S&P500 Down -0.3% percent 2,501 (7.11)
Nasdaq Composite Down -0.7% percent 6,410 (46.39)
30 Year Treasury Down (2) Basis Points 2.80 Annual Yield
The Federal Reserve still plans to raise interest rates once more before year end, but yesterday it signaled the cycle of rate hikes might end sooner than planned. In an expected move, the Fed also announced it will slowly shrink its huge $4.5 trillion balance sheet starting in October. “The basic message here is U.S. economic performance has been good,” Chairman Janet Yellen said in a press conference after the Federal Open Market Committee concluded its two-day meeting.
Initial claims for unemployment benefits for the week ended September 16 fell by 23,000 to 259,000, according to the Labor Department. Last week claims hit a two-year high after hurricane Harvey. Continuing claims, rose by 44,000 to 1.98 million the week ended September 9.
Freddie Mac reports the 30-year fixed-rate mortgage averaged 3.83% this week, up from last week’s 3.78%. A year ago it was 3.48%. The 15-year fixed averaged 3.13%, up from 3.08%. A year ago it averaged 2.76%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/jobless-claims-subside-in-mid-september-despite-hurricane-damage-2017-09-21
http://freddiemac.mwnewsroom.com/press-releases/mortgage-rates-increase-after-lengthy-decline-otcqb-fmcc-1321099
For today’s Market Update Report click to listen->

Morning Market Report 9/21/2017

The KUIK Morning Market Report for Thursday, September 21:
Markets are down.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Down (25) points 22,387 7:09 AM
S&P500 Down -0.3% percent 2,501 (7.44)
Nasdaq Composite Down -0.6% percent 6,418 (37.67)
30 Year Treasury Down (3) Basis Points 2.79 Annual Yield
Manufacturing conditions in the mid-Atlantic region accelerated in September and suggest an economy picking up steam, according to The Philadelphia Fed. It said its manufacturing index rose to a three-month high of 23.8, up from 18.9 in August. Economists expected 18. Any reading above zero indicates improving conditions. General activity, new orders, and shipments all increased.
Initial claims for unemployment benefits for the week ended September 16 fell by 23,000 to 259,000, according to the Labor Department. Last week claims hit a two-year high after hurricane Harvey. continuing claims, rose by 44,000 to 1.98 million the week ended September 9.
Freddie Mac reports the 30-year fixed-rate mortgage averaged 3.83% this week, up from last week’s 3.78%. A year ago it was 3.48%. The 15-year fixed averaged 3.13%, up from 3.08%. A year ago it averaged 2.76%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/philly-fed-manufacturing-index-accelerates-in-september-2017-09-21
http://www.marketwatch.com/story/jobless-claims-subside-in-mid-september-despite-hurricane-damage-2017-09-21
http://freddiemac.mwnewsroom.com/press-releases/mortgage-rates-increase-after-lengthy-decline-otcqb-fmcc-1321099
For today’s Morning Market Report click to listen->

Closing Market Report 9/20/2017

The KUIK Closing Market Report for Wednesday, September 20:
Markets finished mixed.
Index Direction Change Units Index Time Change
Dow Up 42 points 22,413 1:29 PM
S&P500 Up 0.1% percent 2,508 1.59
Nasdaq Composite Down -0.1% percent 6,456 (5.28)
30 Year Treasury Up 1 basis points 2.82 Annual Yield
The Federal Reserve kept interest rates unchanged, as widely expected, but said it would start to shrink its $3.7 trillion balance sheet by $10 billion a month. The Fed also signaled a December rate increase remains on the table as it unwinds its crisis-era asset purchases that had helped to buoy markets over the past decade. During her news conference, YFed Chairman Janet Yellen said the unwinding would be conducted “gradually and predictably.”
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/us-stock-futures-in-holding-pattern-as-historic-fed-decision-looms-2017-09-20
For today’s Closing Market Report click to listen->

Market Update Report 9/20/2017

The KUIK Market Update for Wednesday, September 20:
Markets are mixed.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Down (11) points 22,360 7:26 AM
S&P500 Down 0.0% percent 2,506 (0.43)
Nasdaq Composite Down -0.1% percent 6,454 (7.59)
30 Year Treasury Unchanged Basis Points 2.81 Annual Yield
The Federal Reserve is set to take a leap into the unknown this week by beginning to sell-off some of its $3.7 trillion of bonds and mortgage securities it amassed during the financial crisis. The Fed meets today and tommorw. It’s expected at the end of the meeting to announce it plans to shrink its massive balance sheet beginning in October. Fed Chairman Janet Yellen will hold a press conference to explain the decision.
According to a poll from accounting firm Deloitte, only 8% of companies that are considering going public have moved to the new revenue recognition requirements for for public companies beginning in January 2018. The new rules established by the Financial Accounting Standards Board standardize how companies report revenue, but have a greater impact on companies that have contracts or deferred revenue such as software and technology companies. More than half of companies surveyed believe it will take less than one year to make the accounting changes. Accountants disagree, setting a timeline of 18 to 24 months for full integration of the new standards into their operations.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/fed-to-take-historic-leap-into-the-unknown-2017-09-14
http://www.marketwatch.com/story/ipo-market-could-be-slowed-down-by-revenue-recognition-rules-2017-09-20
For today’s Market Update Report click to listen->

Morning Market Report 9/20/2017

The KUIK Morning Market Report for Wednesday, September 20:
Markets are mixed.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Down (2) points 22,369 7:12 AM
S&P500 Down 0.0% percent 2,506 (0.27)
Nasdaq Composite Down -0.1% percent 6,456 (4.83)
30 Year Treasury Unchanged Basis Points 2.81 Annual Yield
The Federal Reserve is set to take a leap into the unknown this week by beginning to sell-off some of its $3.7 trillion of bonds and mortgage securities it amassed during the financial crisis. The Fed meets today and tommorw. It’s expected at the end of the meeting to announce it plans to shrink its massive balance sheet beginning in October. Fed Chairman Janet Yellen will hold a press conference afterwards to explain the decision.
Senate Republicans are working feverishly to revive plans to replace the Affordable Care Act ahead of a Sept. 30 deadline. The Washington Post says it’s not clear the bill being drafted by Sens. Lindsey Graham of South Carolina and Bill Cassidy of Louisiana would prompt House Republicans to fall in line if it passes the Senate. One obstacle may be House moderates, particularly from California and New York. Those states stand to lose tens of billions of dollars in federal health-care funding under the Graham-Cassidy framework.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/fed-to-take-historic-leap-into-the-unknown-2017-09-14
http://www.marketwatch.com/story/house-passage-of-obamacare-repeal-wouldnt-be-slam-dunk-clinton-urges-government-workers-not-to-quit-2017-09-19
For today’s Morning Market Report click to listen->

Closing Market Report 9/19/2017

The KUIK Closing Market Report for Tuesday, September 19:
Markets were up.
Index Direction Change Units Index Time Change
Dow Up 39 points 22,371 1:35 PM
S&P500 Up 0.1% percent 2,507 2.78
Nasdaq Composite Up 0.1% percent 6,461 6.68
30 Year Treasury Up 1 basis points 2.81 Annual Yield
Senate Republicans have only until the end of September repeal Obamacare under a special legislative process. There were signs today that the GOP is getting closer to the needed number of votes. Sen. John McCain of Arizona told MSNBC he might “reluctantly” vote for the measure offered by Republican Semators Lindsey Graham of South Carolina and Bill Cassidy of Louisiana. Their bill gets rid of the individual and employer mandates and the 2.3% tax on medical devices, and block-grants money to states, leaving reform up to governors.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/obamacare-repeal-effort-picks-up-steam-as-mccain-signals-hes-a-yes-2017-09-18
For today’s Closing Market Report click to listen->

Market Update Report 9/19/2017

The KUIK Market Update for Tuesday, September 19:
Markets are mixed.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Up 21 points 22,352 8:00 AM
S&P500 Up 0.1% percent 2,505 1.22
Nasdaq Composite Up 0.1% percent 6,459 4.80
30 Year Treasury Up 1 Basis Points 2.81 Annual Yield
Builder confidence slipped in September on worries about labor and materials availability. However, permits to build new homes jumped 5.7%, marking the second highest amount since 2007. More Americans can buy a home with unemployment at a 16-year low and households in the best financial shape in years. The building shift is to single-family homes from large apartments and condo complexes. Earlier in the recovery, builders focused more on multi-dwelling buildings with five units or more, properties most likely to be rented. Now single-family home construction is leading the way. Starts on single-family homes rose to an 851,000 annual rate, up 17% from a year ago.
Senate Republicans are considering writing a budget that would allow for up to $1.5 trillion in tax cuts over the next decade, said two people familiar with the discussions. Such a plan would assume that tax cuts would boost economic growth and generate revenue to help pay for themselves, but it would also likely mean that Republicans would need to make some of the tax cuts expire after 10 years, leaving decisions to a future Congress they may not control.
Serving the West Side first, I am Mike Elerath of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/housing-starts-dip-in-august-but-permits-surge-in-sign-of-optimism-2017-09-19
http://www.marketwatch.com/story/senate-republicans-considering-budget-allowing-for-up-to-15-trillion-in-tax-cuts-2017-09-19
For today’s Market Update Report click to listen->

Morning Market Report 9/19/2017

The KUIK Morning Market Report for Tuesday, September 19:
 
Markets are up.
 
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Up 30 points 22,361 7:03 AM
S&P500 Up 0.0% percent 2,505 1.11
Nasdaq Composite Up 0.0% percent 6,455 0.67
30 Year Treasury Unchanged Basis Points 2.80 Annual Yield
 
Builder confidence slipped in September on worries about labor and materials availability. However, permits to build new homes jumped 5.7%, marking the second highest amount since 2007. More Americans can buy a home with unemployment at a 16-year low and households in the best financial shape in years. The building shift is to single-family homes from large apartments and condo complexes. Earlier in the recovery, builders focused more on multi-dwelling buildings with five units or more, properties most likely to be rented. Now single-family home construction is leading the way. Starts on single-family homes rose to an 851,000 annual rate, up 17% from a year ago.
Senate Republicans are considering writing a budget that would allow for up to $1.5 trillion in tax cuts over the next decade, said two people familiar with the discussions. Such a plan would assume that tax cuts would boost economic growth and generate revenue to help pay for themselves, but it would also likely mean that Republicans would need to make some of the tax cuts expire after 10 years, leaving decisions to a future Congress they may not control.
 
 
Serving the West Side first, I am Mike Elerath of BR Capital for 1360 KUIK.
 
http://www.marketwatch.com/story/housing-starts-dip-in-august-but-permits-surge-in-sign-of-optimism-2017-09-19
http://www.marketwatch.com/story/senate-republicans-considering-budget-allowing-for-up-to-15-trillion-in-tax-cuts-2017-09-19
 
For today’s Morning Market Report click to listen->

Closing Market Report 9/18/2017

The KUIK Closing Market Report for Monday, September 18:
Markets were up.
Index Direction Change Units Index Time Change
Dow Up 63 points 22,331 2:37 PM
S&P500 Up 0.2% percent 2,504 3.64
Nasdaq Composite Up 0.1% percent 6,455 6.17
30 Year Treasury Up 3 basis points 2.80 Annual Yield
A report, from the Congressional Budget Office, shows that the average corporate tax revenue fell by $45 million in the first full year after an inversion. That’s when a U.S. multinational converts to being a foreign corporation in the U.S. tax system, even though the shareholders of the original U.S. company retain more than 50% of the new company. Companies reduced their ratio of world-wide taxes to earnings from an average of 29% the year before inversion to 18% the year after, according to data from 1994 to 2014.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/heres-how-much-inversions-take-from-the-us-treasury-2017-09-18
For today’s Closing Market Report click to listen->

Market Update Report 9/18/2017

The KUIK Market Update for Monday, September 18:
Markets are up.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Up 78 points 22,346 8:17 AM
S&P500 Up 0.3% percent 2,507 6.42
Nasdaq Composite Up 0.4% percent 6,474 25.72
30 Year Treasury Up 3 Basis Points 2.80 Annual Yield
The Stoxx Europe 600 index rose 0.4% to 382. All sectors were higher, led by the telecommunications and industrials. On Friday, it fell 0.3%, but finished last week up by 1.4%. The gains followed advances in Asian markets, where South Korea’s Kospi Index jumped 1.4%. U.S. Secretary of State Rex Tillerson yesterday on "Face the Nation" said the U.S. is seeking “a peaceful solution” to the conflict with North Korea as a military option is the only one left if diplomatic efforts fail.
The National Association of Home Builders/Wells Fargo housing market index fell 3 points to 64, and August’s reading was downwardly revised by a point. The recent hurricanes have homebuilders worred about the availability of labor and the cost of building materials. The concern is that Hurricanes Harvey and Irma did so much damage that construction workers will flock to Texas and Florida for rebuilding. Finding qualified workers has been a problem for some time, and the hiring rate in the construction industry at 5.3%, is above the national average of 3.8%. The index is still optimistic, any reading over 50 indicates “good” conditions.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/european-stocks-get-a-lift-as-north-korea-tensions-cool-2017-09-18?dist=markets
http://www.marketwatch.com/story/builder-confidence-slips-in-september-on-worries-about-labor-materials-availability-2017-09-18
For today’s Market Update Report click to listen->

Morning Market Report 9/18/2017

The KUIK Morning Market Report for Monday, September 18:
Markets are up.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Up 66 points 22,335 7:03 AM
S&P500 Up 0.3% percent 2,507 6.96
Nasdaq Composite Up 0.4% percent 6,472 23.99
30 Year Treasury Up 2 Basis Points 2.79 Annual Yield
The Stoxx Europe 600 index rose 0.4% to 382. All sectors were higher, led by the telecommunications and industrials. On Friday, it fell 0.3%, but finished last week up by 1.4%. The gains followed advances in Asian markets, where South Korea’s Kospi Index jumped 1.4%. U.S. Secretary of State Rex Tillerson yesterday on "Face the Nation" said the U.S. is seeking “a peaceful solution” to the conflict with North Korea as a military option is the only one left if diplomatic efforts fail.
The Federal Reserve is set to take a leap into the unknown this week by beginning to sell some of the $3.7 trillion of bonds and mortgage securities it amassed during the financial crisis. The Fed will meet on Tuesday and Wednesday and is widely expected at the end of the meeting to announce its plans to start selling down its massive balance sheet beginning sometime in October. Fed Chairman Janet Yellen will hold a press conference afterwards to explain the decision.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/european-stocks-get-a-lift-as-north-korea-tensions-cool-2017-09-18?dist=markets
http://www.marketwatch.com/story/fed-to-take-historic-leap-into-the-unknown-2017-09-14
For today’s Morning Market Report click to listen->

Market Update Report 9/15/2017

The KUIK Market Update for Friday, September 15:
Markets are up.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Up 41 points 2,244 8:07 AM
S&P500 Up 0.1% percent 2,498 1.90
Nasdaq Composite Up 0.4% percent 6,457 28.36
30 Year Treasury Unchanged Basis Points 2.78 Annual Yield
The Empire State manufacturing survey slipped to 24.4 in September from 25.2 in August, according to the New York Fed. Economists expected 19. Readings above zero indicate improving conditions. Subcomponents were also strong. New orders, shipments, and unfilled orders all rose. The Empire State is the first of the regional manufacturing surveys to be released. The Philadelphia Fed survey comes out next week. Economists expect a negative impact on national manufacturing due toHurricane Harvey.
The University of Michigan’s consumer-sentiment index fell to 95.3 from 96.8 in August. Economists expected 94.5. 9% of respondents are concerned that Hurricanes Harvey and Irma would have a negative impact on the economy. According to the University of Michigan, while consumers anticipate a slight rise in gasoline prices and inflation, they see the best financial situation in more than a decade, helped by record high for the stock market , surging home prices, and gains in income as employment continues to rise.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/empire-state-factory-gauge-stays-near-three-year-high-in-september-2017-09-15
http://www.marketwatch.com/story/consumer-sentiment-falls-slightly-in-september-amid-hurricane-concerns-2017-09-15
For today’s Market Update Report click to listen->

Morning Market Report 9/15/2017

The KUIK Morning Market Report for Friday, September 15:
Markets are mixed.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Up 18 points 22,221 7:13 AM
S&P500 Down -0.1% percent 2,493 (2.24)
Nasdaq Composite Up 0.0% percent 6,430 0.74
30 Year Treasury Down (1) Basis Points 2.77 Annual Yield
The Empire State manufacturing survey slipped to 24.4 in September from 25.2 in August, according to the New York Fed. Economists expected 19. Readings above zero indicate improving conditions. Subcomponents were also strong. New orders, shipments, and unfilled orders all rose. The Empire State is the first of the regional manufacturing surveys to be released. The Philadelphia Fed survey comes out next week. Economists expect a negative impact on national manufacturing due toHurricane Harvey.
Sales at retailers nationwide fell 0.2% for the biggest decline in six months, according to the Commerce Department. Economists expected no change. It was the second drop in three months, reflecting fewer car purchases and a reluctance by Americans to spend on consumer goods likeclothes and electronics. The auto industry accounts for about one-fifth of all sales. In August sales at auto dealers fell 1.6%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/empire-state-factory-gauge-stays-near-three-year-high-in-september-2017-09-15
http://www.marketwatch.com/story/us-retail-sales-slump-near-end-of-summer-2017-09-15
For today’s Morning Market Report click to listen->

Closing Market Report 9/14/2017

The KUIK Closing Market Report for Thursday, September 14:
Markets were mixed.
Index Direction Change Units Index Time Change
Dow Up 45 points 22,203 2:13 PM
S&P500 Down -0.1% percent 2,496 (2.75)
Nasdaq Composite Down -0.5% percent 6,429 (31.10)
30 Year Treasury Down (2) basis points 2.78 Annual Yield
In remarks to reporters on Air Force One President Trump said today that he likes and respects Fed Chairman Janet Yellen but he hasn’t made a decision on whether to reappoint her to another four-year term. Yellen’s current term as Fed chief ends in February 2018. With the retirement of Fed Vice Chair Stanley Fischer, Trump could swiftly fill five of the seven seats on the Fed’s board of governors.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/trump-says-he-likes-and-respects-yellen-but-hasnt-made-up-his-mind-yet-about-top-fed-job-2017-09-14
For today’s Closing Market Report click to listen->