Closing Market Report 5/25/2017

The KUIK Closing Market Report for Thursday, May 25:
 
Markets were up.
 
Index Direction Change Units Index Time Change  
Dow Up                     71 points         21,083 5:51 PM    
S&P500 Up 0.4% percent           2,415        10.68  
Nasdaq Composite Up 0.7% percent           6,205        42.23  
30 Year Treasury Down                      (1) basis points            2.92 Annual Yield    
 
Members of the Organization of the Petroleum Exporting Countries agreed to keep their output-cut deal in place through March of next year, and thatmatched market consensus, but it disappointed some traders who were looking for a longer time frame or larger cuts. Reports of the nine-month extension came out hours ahead of the official announcement, with prices dropping in reaction to July crude 5.0%, to settle at $48.77 a barrel on the New York Merc.
 
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
 
http://www.marketwatch.com/story/why-oil-is-plunging-even-after-opec-extended-its-landmark-output-cut-deal-2017-05-25?link=MW_popular
 
For today’s Closing Market Report click to listen->

Market Update Report 5/25/2017

The KUIK Market Update for Thursday, May 25:
 
Markets are up.
 
Index Direction Change Units Index Time Change  
Dow Jones Industrial Average Up                     80  points            21,093 8:07 AM    
S&P500 Up 0.5% percent             2,416        11.27  
Nasdaq Composite Up 0.6% percent             6,201        38.25  
30 Year Treasury Up                       1 Basis Points               2.94 Annual Yield    
 
The Labor Department reported initial jobless claims rose by 1,000 to 234,000 last week. Continuing claims rose by 24,000 to 1.92 million. They’ve been under 2 million for six straight weeks.
 
Freddie Mac reports mortgage rates have hit their lows of 2017.  the 30-year fixed-rate mortgage averaged 3.95% this week, down from last week’s 4.02%. A year ago it was averaged 3.64%. The 15-year fixed was 3.19%, down from 3.27%. A year ago it was 2.89%.
 
Federal Reserve Governor Lael Brainard said  there is now less risk to the U.S. economy due to a healthier global economy. The euro-area is growing more solidly, she noted.  Growth has stabilized in Japan, and emerging markets are also doing better. She said there is likely to be a sustained upward revision to foreign growth for the first time in about three years. 
 
 
 
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
 
http://www.marketwatch.com/story/low-jobless-claims-look-like-rerun-of-early-1970s-2017-05-25
http://freddiemac.mwnewsroom.com/press-releases/mortgage-rates-drop-to-lowest-of-2017-otcqb-fmcc-1310392
http://www.marketwatch.com/story/feds-brainard-risks-to-us-economy-lower-due-to-brighter-global-economy-2017-05-25
 
 
For today’s Market Update Report click to listen->

Morning Market Report 5/25/2017

The KUIK Morning Market Report for Thursday, May 25:
 
Markets are up.
 
Index Direction Change Units Index Time Change  
Dow Jones Industrial Average Up                       68  points            21,081 7:11 AM    
S&P500 Up 0.4% percent            2,413               8.65  
Nasdaq Composite Up 0.5% percent            6,192              28.50  
30 Year Treasury Unchanged                       –   Basis Points              2.93 Annual Yield    
 
The trade gap in physical goodswidened to $67.6 billion in April from $65.1 billion in March, according to Commerce Department’s advanced report. The full report will be released on June 2. Economists expected a deficit of $64 billion in April. Exports fell and imports expanded. The government reported last month that the overall U.S. trade deficit in March totaled $43.7 billion. Wholesale and retail inventories both fell 0.3% in April. Falling inventories was a drag on the first quarter. The economy grew at only a  0.7% annual rate in the first three months of the year, the slowest pace in three years.
 
The Labor Department reported initial jobless claims rose by 1,000 to 234,000 last week. Continuing claims rose by 24,000 to 1.92 million. They’ve been under 2 million for six straight weeks.
 
 
 
 
 
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
 
http://www.marketwatch.com/story/us-trade-deficit-in-goods-widened-in-april-2017-05-25
http://www.marketwatch.com/story/low-jobless-claims-look-like-rerun-of-early-1970s-2017-05-25
 
 
 
For today’s Morning Market Report click to listen->

Closing Market Report 5/24/2017

The KUIK Closing Market Report for Wednesday, May 24:
 
Markets were up.
 
Index Direction Change Units Index Time Change  
Dow Up                     75 points         21,012 2:39 PM    
S&P500 Up 0.3% percent           2,404          5.97  
Nasdaq Composite Up 0.4% percent           6,163        24.31  
30 Year Treasury Down                      (2) basis points            2.93 Annual Yield    
 
Criminal and civil charges were filed todayin a case that seeks to prevent insider trading on political intelligence. The Securities and Exchange Commission and the U.S. attorney for the Southern District of New York filed charges in connection with the passing along of information on Medicare reimbursement rates. The SEC said David Blaszczak, a former government employee turned political-intelligence consultant at least three times received information about upcoming decisions by the Centers for Medicare and Medicaid Services from a former colleague and then allegedly tipped off analysts at hedge-fund Deerfield Capital Management.
 
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
 
http://www.marketwatch.com/story/government-pursues-insider-trading-case-over-so-called-political-intelligence-2017-05-24
 
For today’s Closing Market Report click to listen->

Market Update Report 5/24/2017

The KUIK Market Update for Wednesday, May 24:
 
Markets are up.
 
Index Direction Change Units Index Time Change  
Dow Jones Industrial Average Up                     37  points            20,975 7:56 AM    
S&P500 Up 0.1% percent             2,401         2.31  
Nasdaq Composite Up 0.2% percent             6,149        10.26  
30 Year Treasury Down                      (1) Basis Points               2.94 Annual Yield    
 
The Federal Reserve’s Open Market Committee will release the minutes of its May 3 meeting today at 11 am Pacific Time. Its statement after that meeting was more hawkish than expected. The Fed dismissed the slowdown in first-quarter GDP growth as “transitory.” The minutes should show the Fed’s plans for another interest rate hike at its policy meeting in the middle of June.
 
The National Association of Realtors reports sales of existing homes for April ran at a seasonally adjusted annual rate of 5.57 million as thin inventory holds back demand. It was down 2.3% compared to March which hit a 10-year high, though 1.6% higher compared to April 2016. Inventory’s 9% lower than a year ago and at the current sales pace there is 4.2 months of supply. Properties were on the market for an average 29 days from listing to contract, the lowest since the Realtors began tracking in 2011. That’s pushing  prices higher. The median national sales price was $244,800  up 6% compared to a year ago and the 62nd-straight month of annual price gains.
 
 
 
 
 
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
 
http://www.marketwatch.com/story/fed-minutes-may-quell-fresh-doubts-about-a-june-rate-hike-2017-05-19
http://www.marketwatch.com/story/existing-home-sales-stall-in-april-as-tight-supply-pushes-properties-to-record-low-time-on-the-market-2017-05-24
 
 
 
For today’s Market Update Report click to listen->

Morning Market Report 5/24/2017

The KUIK Morning Market Report for Wednesday, May 24:
 
Markets are up.
 
Index Direction Change Units Index Time Change  
Dow Jones Industrial Average Up                       15  points            20,953 7:12 AM    
S&P500 Up 0.1% percent            2,400               1.34  
Nasdaq Composite Up 0.1% percent            6,144               5.53  
30 Year Treasury Down                        (1) Basis Points              2.94 Annual Yield    
 
The Federal Reserve’s Open Market Committee will release the minutes of its May 3 meeting today at 11 am Pacific Time. The statement it released after that meeting was more hawkish than expected. The Fed dismissed the slowdown in first-quarter GDP growth as “transitory,” noting that despite the slower consumer spending “fundamentals underpinning the continued growth of consumption remain solid.” The minutes should remove doubts about the Fed’s plans for another interest rate hike at its policy meeting in the middle of June.
 
Moody’s Investors Service cut China’s sovereign credit rating to A1 from Aa3, while changing its outlook to stable from negative citing expectations that the country’s financial strength will deteriorate in the coming years as debt keeps rising and the economy slows. In March of last year, it cut China’s outlook to negative from stable and it last cut its credit rating in November 1989, after the crackdown on mass protests in Beijing’s Tiananmen Square. Moody’s now rates China’s credit alongside that of Japan, Saudi Arabia and Israel. The news triggered an early selloff in Chinese stocks, with shares in the Shanghai composite falling more than 1% before recovering.
 
 
 
 
 
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
 
http://www.marketwatch.com/story/fed-minutes-may-quell-fresh-doubts-about-a-june-rate-hike-2017-05-19
http://www.marketwatch.com/story/moodys-downgrades-china-rating-for-the-first-time-in-nearly-30-years-2017-05-24\
 
 
 
For today’s Morning Market Report click to listen->

Closing Market Report 5/23/2017

The KUIK Closing Market Report for Tuesday, May 23:
 
Markets were up.
 
Index Direction Change Units Index Time Change  
Dow Up                     43 points         20,938 2:31 PM    
S&P500 Up 0.2% percent           2,398          4.40  
Nasdaq Composite Up 0.1% percent           6,139          5.09  
30 Year Treasury Up                       4 basis points            2.95 Annual Yield    
 
In a speech in New York, Philadelphia Federal Reserve President Patrick Harker says he longs for the day when people at dinner parties avoided getting stuck next to him and that the Fed intends to make shrinking its balance sheet about as boring as “watching paint dry.” The Fed’s balance sheet as grown to $4.5 trillion since the financial crisis, holding Treasurys and mortgage assets that created a loose monetary policy. Shedding the assets will create tighter policy, as the plans are watched closely by Wall Street.
 
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
 
http://www.marketwatch.com/story/fed-wants-to-make-shrinking-its-balance-sheet-as-exciting-as-watching-paint-dry-harker-says-2017-05-23
 
For today’s Closing Market Report click to listen->

Market Update Report 5/23/2017

The KUIK Market Update for Tuesday, May 23:
 
Markets are mixed.
 
Index Direction Change Units Index Time Change  
Dow Jones Industrial Average Up                     36  points            20,931 8:10 AM    
S&P500 Up 0.2% percent             2,398         3.53  
Nasdaq Composite Up 0.0% percent             6,134         0.60  
30 Year Treasury Unchanged                      –   Basis Points               2.91 Annual Yield    
 
President Trump’s budget estimates over $2 trillion in savings will result under the ambitious 3% economic growth assumed in the proposal. The budget, to be released today, assumes savings of $2.1 trillion under what the White House calls the effects of economic feedback or growth. The administration forecasts the deficit will widen by $3.15 trillion over a decade.
 
IHS Markit said its manufacturing Purchasing Managers Index fell to 52.5 in May down from April’s 52.8, for an eight-month low. Readings above 50 means more executives believe business conditions are getting better instead of worse. Markit said its U.S. services index rose to a four-month high of 54 from 53.1. The service side of the economy employs four of every five American workers in fields such as banking, retail, and medical care. Aside from the slightdip in manufacturing, the U.S. economy appears to have regained momentum in the second quarter after a slow start to 2017. Economists predict U.S. growth will speed up to 3% annually in the spring from a 0.7% pace in the first quarter. 
 
 
 
 
 
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
 
http://www.marketwatch.com/story/more-than-2-trillion-in-savings-to-come-from-economic-growth-trump-budget-2017-05-22
http://www.marketwatch.com/story/us-economy-shows-slightly-faster-pulse-in-may-markit-finds-2017-05-23
 
 
 
For today’s Market Update Report click to listen->

Morning Market Report 5/23/2017

The KUIK Morning Market Report for Tuesday, May 23:
 
Markets are mixed.
 
Index Direction Change Units Index Time Change  
Dow Jones Industrial Average Up                       11  points            20,907 7:05 AM    
S&P500 Up 0.1% percent            2,395               1.16  
Nasdaq Composite Down -0.1% percent            6,130              (4.11)  
30 Year Treasury Unchanged                       –   Basis Points              2.91 Annual Yield    
 
According to Office of Management and Budget Director Mick Mulvaney speaking to reporters yesterday, President Trump’s budget would limit eligibility for the Earned Income Tax Credit and the Child Tax Credit to recipients “who are authorized to work in the U.S.” Both credits benefit low to  moderate income households. Changes to those two programs are estimated to save about $40 billion over a decade.  Reforming anti-poverty programs such as the Supplemental Nutritional Assistance Program, or SNAP commonly known as food stamps  would see a $193 billion cut under the Trump proposal.
 
President Trump’s budget estimates over $2 trillion in savings will result under the ambitious 3% economic growth assumed in the proposal. The budget, to be released today, assumes savings of $2.1 trillion under what the White House calls the effects of economic feedback or growth. The administration forecasts the deficit will widen by $3.15 trillion over a decade.
 
 
 
 
 
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
 
http://www.marketwatch.com/story/trumps-budget-takes-aim-at-illegal-immigrants-by-limiting-tax-credits-2017-05-22
http://www.marketwatch.com/story/more-than-2-trillion-in-savings-to-come-from-economic-growth-trump-budget-2017-05-22
 
 
 
For today’s Morning Market Report click to listen->

Closing Market Report 5/22/2017

The KUIK Closing Market Report for Monday, May 22:
 
Markets were up.
 
Index Direction Change Units Index Time Change  
Dow Up                     90 points         20,895 2:30 PM    
S&P500 Up 0.5% percent           2,394        12.29  
Nasdaq Composite Up 0.8% percent           6,134        49.92  
30 Year Treasury Up                       1 basis points            2.91 Annual Yield    
 
Chicago home builders filed a class-action lawsuit last week against real estate information company Zillow. The suit claims lowball property-value approximations are misleading would-be home buyers that have stalled sales. The  Zestimates that the Seattle-based Zillow app has calculated since 2006 pose as appraisals in violation of the legal description in Illinois of an appraisal, which needs to be conducted by a licensed appraiser, according to the suit, the first of its kind against Zillow. Zillow maintains that its approximations are not actual appraisals, nor do they claim to be.
 
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
 
http://www.marketwatch.com/story/do-zillow-zestimates-mislead-home-buyers-illinois-lawsuit-claims-yes-2017-05-22
 
For today’s Closing Market Report click to listen->

Market Update Report 5/22/2017

The KUIK Market Update for Monday, May 22:
 
Markets are up.
 
Index Direction Change Units Index Time Change  
Dow Jones Industrial Average Up                     69  points            20,874 8:13 AM    
S&P500 Up 0.3% percent             2,388         6.19  
Nasdaq Composite Up 0.5% percent             6,112        28.10  
30 Year Treasury Up                       1 Basis Points               2.91 Annual Yield    
 
The Chicago Fed’s national activity index jumped to a positive 0.49 in April from a positive 0.07 in March. That’s the highest reading since March 2014. The index is a weighted average of 85 economic indicators, where zero represents trend growth and a three-month average below negative 0.70 means a recession has probably started.
 
Major oil producers will join members of the Organization of the Petroleum Exporting Countries in Vienna this week to discuss extending the six-month agreement to cut production by 1.8 million barrels a day set to expire in June. There analysts believe deal will be extended. The only questions are for how long and whether cuts will be deeper. Production cuts of more than 2 million barrels a day may be discussed because Saudi Arabia is impatient with the pace of rebalancing, which is happening slowly as U.S. producers have increased output. June crude is up 1% to $50.88 a barrel on the New York Merc.
 
 
 
 
 
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
 
http://www.marketwatch.com/story/chicago-feds-national-economic-measure-at-multimonth-high-with-housing-its-only-drag-2017-05-22
http://www.marketwatch.com/story/trump-budget-would-convert-many-overseas-military-grants-to-loans-2017-05-21-20103533
 
 
 
For today’s Market Update Report click to listen->

Morning Market Report 5/22/2017

The KUIK Morning Market Report for Monday, May 22:
 
Markets are up.
 
Index Direction Change Units Index Time Change  
Dow Jones Industrial Average Up                     104  points            20,910 7:11 AM    
S&P500 Up 0.4% percent            2,391               9.34  
Nasdaq Composite Up 0.5% percent            6,116              32.33  
30 Year Treasury Up                         1 Basis Points              2.91 Annual Yield    
 
The Chicago Fed’s national activity index jumped to a positive 0.49 in April from a positive 0.07 in March. That’s the highest reading since March 2014. The index is a weighted average of 85 economic indicators, where zero represents trend growth and a three-month average below negative 0.70 means a recession has probably stared. Personal consumption and housing were the only downers in the report.
 
President Trump’s budget proposal this week will include provisions to end many foreign military grants administered by the State Department and replace them with loans, a move that could affect up to $1 billion in aid to other  countries if Congress approves. An internal State Department memo reviewed by The Wall Street Journal names Pakistan, Tunisia, Lebanon, Ukraine, Colombia, Philippines and Vietnam among the countries affected. The State Department’s Office of Security Assistance dispenses $6 billion in military aid grants including $3.1 billion for Israel, $350 million for Jordan, and $1.3 billion for Egypt. Those grants will be preserved in the 2018 budget. Pakistan usually receives about $265 million in grants, and that would go down to about $100 million under the new budget.
 
 
 
 
 
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
 
http://www.marketwatch.com/story/chicago-feds-national-economic-measure-at-multimonth-high-with-housing-its-only-drag-2017-05-22
http://www.marketwatch.com/story/trump-budget-would-convert-many-overseas-military-grants-to-loans-2017-05-21-20103533
 
 
 
For today’s Morning Market Report click to listen->

Closing Market Report 5/19/2017

The KUIK Closing Market Report for Friday, May 19:
 
Markets were up.
 
Index Direction Change Units Index Time Change  
Dow Up                    142 points         20,805 2:24 PM    
S&P500 Up 0.7% percent           2,382        16.01  
Nasdaq Composite Up 0.5% percent           6,084        28.57  
30 Year Treasury Unchanged                      –   basis points            2.90 Annual Yield    
 
The Trump administration plan to overhaul how borrowers repay their federal student loans.  Under the plan released today, one company will manage the  process. Currently, borrowers pay their debts back to one of many servicers hired by the Department of Education through a  contract. The Department used the latest step in the solicitation process for that contract to announce plans to revamp the program.
 
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
 
http://www.marketwatch.com/story/trump-administration-wants-to-overhaul-the-way-you-repay-student-loans-2017-05-19
 
For today’s Closing Market Report click to listen->

Market Update Report 5/19/2017

The KUIK Market Update for Friday, May 19:
 
Markets are up.
 
Index Direction Change Units Index Time Change  
Dow Jones Industrial Average Up                    119  points            20,783 8:19 AM    
S&P500 Up 0.7% percent             2,383        16.83  
Nasdaq Composite Up 0.7% percent             6,097        42.15  
30 Year Treasury Up                       1 Basis Points               2.91 Annual Yield    
 
The Trump Administration will release next years budget on Tuesday. It will propose balancing the the federal budget over 10 years.  It will spare Medicare and Social Security, the two largest drivers of future spending  and cut trillions from other programs including  education, housing, environment, and foreign aid already laid out by the administration, and add new proposed reductions to nondiscretionary spending like food stamps, Medicaid, and federal employee-benefit programs.
 
Under the heading of “There’s a company for everything.” ShotSpottera gunshot detection service for law enforcement, set a price range Friday for its initial public offering of $10 to $12, which would bring in up to $33.6 million. The Newark, Calif.-based company uses a sensor system to pinpoint the location indoors or outdoors where shots were fired and alert law enforcement. The system is in about 90 cities across the U.S. ShotSpotter plans to sell 2.8 million shares and list on the Nasdaq under the symbol “SSTI.” Roth Capital is the underwriter on the offering.
 
 
 
 
 
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
 
http://www.marketwatch.com/story/trump-to-propose-balancing-budget-with-deep-cuts-2017-05-19
http://www.marketwatch.com/story/shotspotter-a-gunshot-detection-service-sets-price-range-for-336-million-ipo-2017-05-19
 
 
 
For today’s Market Update Report click to listen->

Morning Market Report 5/19/2017

The KUIK Morning Market Report for Friday, May 19:
 
Markets are up.
 
Index Direction Change Units Index Time Change  
Dow Jones Industrial Average Up                       79  points            20,742 7:03 AM    
S&P500 Up 0.6% percent            2,379              13.26  
Nasdaq Composite Up 0.6% percent            6,089              33.80  
30 Year Treasury Up                         2 Basis Points              2.92 Annual Yield    
 
The Trump Administration will release next years budget on Tuesday. It will propose balancing the the federal budget over 10 years.  It will spare Medicare and Social Security, the two largest drivers of future spending  and cut trillions from other programs including  education, housing, environment, and foreign aid already laid out by the administration, and add new proposed reductions to nondiscretionary spending like food stamps, Medicaid, and federal employee-benefit programs.
 
The House of Representatives could have to vote again on repealing Obamacare, according to Bloomberg. The report quotes Rep. Greg Walden, the Republican who represent’s Oregon 2nd district and chair of the House Energy and Commerce committee. He said parts of the bill might have to be redone depending on how the Congressional Budget Office estimates its effects. House Republicans have yet to send the bill to the Senate because the CBO has to conclude it saves at least $2 billion to conform to rules that prevent a filibuster. The CBO report on the bill is expected next week. House Republicans narrowly passed the measure on May 4.
 
 
 
 
 
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
 
http://www.marketwatch.com/story/trump-to-propose-balancing-budget-with-deep-cuts-2017-05-19
http://www.marketwatch.com/story/house-could-have-to-vote-again-on-obamacare-repeal-report-2017-05-18
 
 
 
For today’s Morning Market Report click to listen->