Closing Market Report 11/17/2017

The KUIK Closing Market Report for Friday, November 17:
Markets were down.
Index Direction Change Units Index Time Change
Dow Down (100) points 23,358 1:49 PM
S&P500 Down -0.3% percent 2,579 (0.49)
Nasdaq Composite Down -0.2% percent 6,783
30 Year Treasury Down (1) basis points 2.79 Annual Yield
Tesla shares and bonds rose. Yesterday it unveiled its promised electric commercial truck and showed off a new version of the Roadster. The star of Tesla’s show was a big-rig with a 500-mile range, some autonomous driving capabilities, and a relatively short recharging time. The truck is on tap for production in 2019. Trucking company J.B. Hunt said earlier today it placed orders to buy several Tesla Semis and Wal-Mart confirmed it has pre-ordered 15 trucks, five for its U.S. fleet and 10 for Canada.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/tesla-shares-jump-as-wall-street-heaps-praise-on-electric-truck-2017-11-17
For today’s Closing Market Report click to listen->

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.
https://www.marketwatch.com/story/housing-starts-booms-137-in-october-2017-11-17
https://www.wsj.com/articles/treasury-calls-for-overhaul-of-systemically-important-designation-1510930385
For today’s Market Update Report click to listen->

Morning Market Report 11/17/2017

The KUIK Morning Market Report for Friday, November 17:
Markets are down.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Down (56) points 23,402 7:11 AM
S&P500 Down -0.1% percent 2,582 F
Nasdaq Composite Down -0.1% percent 6,788 F
30 Year Treasury Down (1) Basis Points 2.80 Annual Yield
The Commerce Department reports housing starts for October rose 13.7% to a seasonally adjusted annual rate of 1.29 million. September was revised upward to 1.135 million. Economists expected a 1.2 million rate. Big gains came in the South and the Midwest, with some of that activity due to the recovery from the hurricanes that hit Texas and Florida. On a percentage basis, 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%.
House Republicans lost somevotes from their members on the GOP tax bill that passed the house yesterday. The bill eliminates the deduction for state and local income taxes, but preserves the deduction for property tax up to $10,000. That wasn’t enough for some Republicans, mostly from New York and New Jersey, two high-tax states that the deduction favors. Voting “no” on the bill were five New York lawmakers; four from New Jersey; three from California; and one from North Carolina. California and New York together get nearly a third of the deduction’s total value nationwide, according to the Tax Foundation.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/housing-starts-booms-137-in-october-2017-11-17
https://www.marketwatch.com/story/13-republicans-defect-from-tax-bill-as-anger-simmers-over-eliminating-state-and-local-deduction-2017-11-16
For today’s Morning Market Report click to listen->

Closing Market Report 11/16/2017

The KUIK Closing Market Report for Thursday, November 16:
Markets were up.
Index Direction Change Units Index Time Change
Dow Up 187 points 23,458 2:41 PM
S&P500 Up 0.8% percent 2,586 (0.49)
Nasdaq Composite Up 1.3% percent 6,793
30 Year Treasury Up 3 basis points 2.81 Annual Yield
The House of Representatives passed its version of a tax overhaul, advancing a key Republican priority. The Tax Cuts and Jobs Act, would cut the corporate rate to 20%; set up four tax brackets; and switch the U.S. to a territorial tax system. House passage is just one step. The Senate Finance Committee is working on a separate measure that differs among other things by repealing Obamacare’s individual insurance mandate. The House and Senate must agree on a single measure before sending it to President Donald Trump. The House bill passed 227 to 205.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/house-passes-tax-overhaul-with-all-republican-votes-2017-11-16
For today’s Closing Market Report click to listen->

Market Update Report 11/16/2017

The KUIK Market Update for Thursday, November 16:
Markets are up.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Up 181 points 23,452 8:09 AM
S&P500 Up 0.8% percent 2,585 F
Nasdaq Composite Up 1.2% percent 6,787 F
30 Year Treasury Up 1 Basis Points 2.79 Annual Yield
The Labor Department reports initial claims for unemployment benefits rose by 10,000 to 249,000 the week ended November 11. That was a six-week high and more than the 235,000 expected by economists. Continuing claims fell by 44,000 to 1.86 million and that’s the lowest number since December 1973.
Freddie Mac reports the 30-year fixed-rate mortgage averaged 3.95% this week up from last week’s 3.90%. A year ago it was 3.94%. The 15-year fixed averaged 3.31% up from 3.24%. A year ago it was 3.14%.
The National Association of Home Builders’ monthly confidence gauge for November rose two points to 70 and that is its highest level since March and the second-highest reading since the housing bubble of 2005. Economists expected a one-point drop to 67. Readings over 50 signal expansion. Current sales conditions rose two points, but sales over the next six months fell one point. Buyer traffic rose two points.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/us-jobless-claims-jump-to-6-week-high-2017-11-16
http://freddiemac.mwnewsroom.com/press-releases/mortgage-rates-bounce-up-otcqb-fmcc-1325434
https://www.marketwatch.com/story/home-builder-confidence-climbs-to-8-month-high-in-november-nahb-says-2017-11-16
For today’s Market Update Report click to listen->

Morning Market Report 11/16/2017

The KUIK Morning Market Report for Thursday, November 16:
Markets are up.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Up 148 points 23,417 7:18 AM
S&P500 Up 0.6% percent 2,579 F
Nasdaq Composite Up 0.9% percent 6,767 F
30 Year Treasury Unchanged Basis Points 2.78 Annual Yield
The Labor Department reports initial claims for unemployment benefits rose by 10,000 to 249,000 the week ended November 11. That was a six-week high and more than the 235,000 expected by economists. Continuing claims fell by 44,000 to 1.86 million and that’s the lowest number since December 1973.
Freddie Mac reports the 30-year fixed-rate mortgage averaged 3.95% this week up from last week’s 3.90%. A year ago it was 3.94%. The 15-year fixed averaged 3.31% up from 3.24%. A year ago it was 3.14%.
Demographic change in the U.S. will result in a slower-growing and older population and the Federal Reserve must be alert to the impact of this transition on economic growth and interest rates, said Cleveland Fed President Loretta Meste. In a speech to the Cato Institute in Washington, Mester said it was still not clear whether the coming demographic change would put upward or downward pressure on interest rates. People want to reduce their exposure to risk as they age so there would be downward pressure on low risk or risk-free rates. But there would also be upward pressure on interest rates as people draw down their savings and sell assets to fund their retirement, and as the government boosts spending on retiree benefits.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/us-jobless-claims-jump-to-6-week-high-2017-11-16
http://freddiemac.mwnewsroom.com/press-releases/mortgage-rates-bounce-up-otcqb-fmcc-1325434
https://www.marketwatch.com/story/mortgage-rates-spike-to-four-month-high-as-tax-reform-drives-bond-sell-off-2017-11-16
For today’s Morning Market Report click to listen->

Closing Market Report 11/15/2017

The KUIK Closing Market Report for Wednesday, November 15:
Markets were down.
Index Direction Change Units Index Time Change
Dow Down (138) points 23,271 2:05 PM
S&P500 Down -0.6% percent 2,565 (0.49)
Nasdaq Composite Down -0.5% percent 6,706
30 Year Treasury Down (6) basis points 2.78 Annual Yield
Richard Cordray, the director of the Consumer Financial Protection Bureau, will leave his post by the end of the month, he said in a memo to staff. There has been growing speculation he will run for governor of Ohio, though the memo does not refer to future plans. His departure would allow President Donald Trump to appoint a new director. House Financial Services Committee Chairman Jeb Hensarling, Republican from Texas, said "we are long overdue for new leadership" at the agency, which was created by the Dodd-Frank Act.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/cfpbs-cordray-to-step-down-by-end-of-november-2017-11-15
For today’s Closing Market Report click to listen->

Market Update Report 11/15/2017

The KUIK Market Update for Wednesday, November 15:
Markets are down.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Down (91) points 23,321 8:02 AM
S&P500 Down -0.4% percent 2,569 F
Nasdaq Composite Down -0.4% percent 6,714 F
30 Year Treasury Down (4) Basis Points 2.80 Annual Yield
The Empire State index for November fell 10.8 points to 19.4, moving back from a three-year high in October but still pointing to a solid manufacturing environment in the New York area. Any reading above zero indicates improving conditions. New-orders rose while shipments fell.
The Commerce Department reports retail sales rose 0.2% in October, after an upwardly revised 1.9% gain in September, that was boosted by post-hurricane spending. Economists expected October to be unchanged. Excluding autos, sales rose 0.1% after a 1.2% gain in September. Only a few sectors were weak: building materials, gasoline stations, and non-store retailers. Auto sales were up 0.7% but sales at general merchandise stores were flat.
Inflation has been too low for too long and the Federal Reserve has to alter its communications with the markets to convince investors the Fed is willing to let it run hotter than the 2% target, says Charles Evans, president of the Chicago Fed,. In a speech in London, Evans said the Fed must alter its statement to make clear that its inflation target of 2% is not a ceiling.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/empire-state-index-retreats-in-november-from-three-year-high-2017-11-15
https://www.marketwatch.com/story/us-retail-sales-rise-modestly-in-october-after-surge-in-prior-month-2017-11-15
https://www.marketwatch.com/story/fed-should-convince-markets-it-would-tolerate-inflation-at-25-evans-says-2017-11-15
For today’s Market Update Report click to listen->

Morning Market Report 11/15/2017

The KUIK Morning Market Report for Wednesday, November 15:
Markets are down.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Down (141) points 23,268 7:11 AM
S&P500 Down -0.6% percent 2,563 F
Nasdaq Composite Down -0.7% percent 6,692 F
30 Year Treasury Down (5) Basis Points 2.77 Annual Yield
The Empire State index for November fell 10.8 points to 19.4, moving back from a three-year high in October but still pointing to a solid manufacturing environment in the New York area. Any reading above zero indicates improving conditions. New-orders rose while shipments fell.
The consumer price index rose 0.1% in October, held down by falling energy prices, according to the Labor Department, in line with forecasts. If food and energy are stripped out, core CPI rose a slightly larger 0.2%. The drop in energy prices pushed the annual rate of inflation down to 2% from September’s 2.2%. The core rate rose at a 1.8% annual rate, up from 1.7% in September and the fastest pace since April. Adjusted for inflation, hourly wages fell 0.1%. Over the past year “real” wages have risen just 0.4%. The index for shelter increased 0.3% and was a main factor in the increase in inflation. The energy index fell 1% in September led by lower gasoline prices. The core rate was boosted by several categories, including medical care, used cars and trucks, and tobacco.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/empire-state-index-retreats-in-november-from-three-year-high-2017-11-15
https://www.marketwatch.com/story/core-cpi-picks-up-in-october-2017-11-15
For today’s Morning Market Report click to listen->

Closing Market Report 11/14/2017

The KUIK Closing Market Report for Tuesday, November 14:
Markets were down.
Index Direction Change Units Index Time Change
Dow Down (30) points 23,409 1:59 PM
S&P500 Down -0.2% percent 2,579 (0.49)
Nasdaq Composite Down -0.3% percent 6,738
30 Year Treasury Down (3) basis points 2.84 Annual Yield
Rural communities in America are facing “an increasingly difficult plight,” but are also where wages for low-skilled workers are starting to rise, says Atlanta Fed President Raphael Bostic. Rural employers are having relatively more difficulty filling positions and are having to raise wages to attract workers, Bostic said in a speech in Montgomery, Alabama. As a result, wages have increased in rural areas more rapidly in recent years, especially for less-skilled workers. While jobs requiring less education may be more plentiful in urban areas, the supply of labor has kept up with this demand.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/wages-are-rising-in-rural-areas-not-cities-feds-bostic-says-2017-11-14
For today’s Closing Market Report click to listen->

Market Update Report 11/14/2017

The KUIK Market Update for Tuesday, November 14:
Markets are down.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Down (65) points 23,374 8:01 AM
S&P500 Down -0.3% percent 2,578
Nasdaq Composite Down -0.3% percent 6,740
30 Year Treasury Down (3) Basis Points 2.84 Annual Yield
The optimism tracker for October from the National Federation of Independent Business rose to 103.8 from September’s 103. Economists expected 105. Four of the sub-gauges rose, five fell, and one was unchanged. The biggest moves up were "Now is a good time to expand" and "Expect real sales higher."
In an interview at The Wall Street Journal CEO Council gathering on Monday, Treasury Secretary Steven Mnuchin said the Trump administration wouldn’t support tax legislation with a corporate tax rate of more than 20% as part of any future compromise between the House and the Senate. Mnuchin also said he strongly supported President Trump’s decision to name Federal Reserve governor Jerome Powell to replace Fed Chairman Janet Yellen when her term expires next February. He said it would be “perfectly fine” if Yellen remained on the Fed’s seven-member board of governors. Yellen’s term as a governor doesn’t expire until 2024.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/small-business-confidence-ticks-up-as-lower-taxes-take-shape-2017-11-14
https://www.marketwatch.com/story/mnuchin-says-corporate-tax-rate-above-20-is-a-dealbreaker-for-trump-2017-11-13
For today’s Market Update Report click to listen->

Morning Market Report 11/14/2017

The KUIK Morning Market Report for Tuesday, November 14:
Markets are down.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Down (123) points 23,317 7:21 AM
S&P500 Down -0.5% percent 2,572 F
Nasdaq Composite Down -0.5% percent 6,727 F
30 Year Treasury Down (3) Basis Points 2.84 Annual Yield
The optimism tracker for October from the National Federation of Independent Business rose to 103.8 from September’s 103. Economists expected 105. Four of the sub-gauges rose, five fell, and one was unchanged. The biggest moves up were "Now is a good time to expand" and "Expect real sales higher."
Inflation seems to be on the rise. The Labor Department reports the producer price index rose 0.4% in October, well above the 0.1% expected by economists. The core rate, which strips out food, energy and trade margins, rose 0.2% for the third straight month. The increase pushed up the 12-month rate of wholesale inflation to 2.8%, the highest since February 2012. The gain was widespread and came despite soft energy prices. The price of goods rose 0.3% , led by pharmaceuticals, which increased 2.1%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/small-business-confidence-ticks-up-as-lower-taxes-take-shape-2017-11-14
https://www.marketwatch.com/story/us-producer-prices-surge-04-in-october-2017-11-14
For today’s Morning Market Report click to listen->

Closing Market Report 11/13/2017

The KUIK Closing Market Report for Monday, November 13:
Markets were up slightly.
Index Direction Change Units Index Time Change
Dow Up 17 points 23,440 2:30 PM
S&P500 Up 0.1% percent 2,585 (0.49)
Nasdaq Composite Up 0.1% percent 6,758
30 Year Treasury Down (1) basis points 2.87 Annual Yield
Missouri Attorney General Josh Hawley issued an investigative subpoena to probe Google’s collection of user data, use of other sites’ content, and alleged manipulation of search results to favor its own services. Google, a unit of Alphabet has avoided the scrutiny in the U.S. that it has faced in Europe, where regulators levied a record $2.7 billion fine in June for allegedly favoring its shopping ads in its search results. Hawley said his investigation was in part prompted by the European fine. “We’re concerned they’re engaged in a similar pattern of behavior in the United States,” he told reporters.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/missouri-opens-investigation-into-googles-business-practices-2017-11-13
For today’s Closing Market Report click to listen->

Market Update Report 11/13/2017

The KUIK Market Update for Monday, November 13:
Markets are down slightly.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Down (4) points 23,418 7:59 AM
S&P500 Down -0.1% percent 2,581 (1.00)
Nasdaq Composite Down -0.1% percent 6,745 F
30 Year Treasury Down (2) Basis Points 2.86 Annual Yield
The Organization of the Petroleum Exporting Countries said crude production fell by 151,000 barrels a day in October and raised its forecast for oil demand this year and in 2018. The cartel said output declined 0.46% to 32.59 million barrels a day from September to October. December crude is up 0.2%, to $56.81 a barrel on the New York Merc. Crude hit 28-month highs early last week, on expectations OPEC and other major producers will agree at the end of this month to extend an agreement on output curbs beyond its March end-date. Last week also saw political turmoil in Saudi Arabia and growing tensions between the kingdom and Iran.
The International Monetary Fund’s executive board called Mexico’s economy resilient "in the face of a complex external environment," on Monday, adding that its "flexible exchange rate is playing a key role in helping the economy adjust to external shocks." Mexico’s reduction of debt, shrinking deficit, and improving financial regulation were cited as among the factors that contributed to the IMF’s review. This year, the Mexican economy is expected to grow 2.1% driven mainly by private consumption, while 2018 growth is projected to slow slightly before picking up steam again. The Mexican peso spiked briefly against the dollar on the release of the report.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/oil-struggles-for-direction-after-opec-data-2017-11-13
https://www.marketwatch.com/story/mexican-economy-resilient-given-macro-environment-says-imf-2017-11-13
For today’s Market Update Report click to listen->

Morning Market Report 11/13/2017

The KUIK Morning Market Report for Monday, November 13:
Markets are flat
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Up 19 points 23,441 7:20 AM
S&P500 Up 0.0% percent 2,581 F
Nasdaq Composite Down 0.0% percent 6,751 F
30 Year Treasury Down (2) Basis Points 2.86 Annual Yield
The Organization of the Petroleum Exporting Countries said crude production fell by 151,000 barrels a day in October and raised its forecast for oil demand this year and in 2018. The cartel said output declined 0.46% to 32.59 million barrels a day from September to October. December crude is up 0.2%, to $56.81 a barrel on the New York Merc. Crude hit 28-month highs early last week, on expectations OPEC and other major producers will agree at the end of the month to extend an agreement on output curbs beyond its March end-date. Last week also saw political turmoil in Saudi Arabia and growing tensions between the kingdom and Iran.
Disarray in the UK. The Sunday Times reported over the weekend that 40 Conservative members of parliament have agreed to sign a letter of no confidence in Prime Minister Theresa May. Just eight more MPs are required to start a formal challenge to her leadership. That raises the possibility that May will be forced out and that the key parliamentary vote this week on the Brexit bill will founder. That’s boosting fears the Conservative coalition government may collapse and throw the Brexit negotiations into disarray.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/oil-struggles-for-direction-after-opec-data-2017-11-13
https://www.marketwatch.com/story/how-an-unsent-letter-to-theresa-may-is-driving-the-pound-lower-2017-11-13
For today’s Morning Market Report click to listen->