Closing Market Report 1/18/2018

The KUIK Closing Market Report for Thursday, January 18:
Markets were down after yesterday’s big runup.
Index Direction Change Units Index Time Change
Dow Down (98) points 26,018 2:26 PM
S&P500 Down -0.2% percent 2,798
Nasdaq Composite Down 0.0% percent 7,296 (2.23)
30 Year Treasury Up 4 Basis Points 2.89 Annual Yield
Bitcoin is trading at $11,190, after it was knocked down Wednesday to its lowest level since late November, below $10,000, according to prices on CoinDesk. Concerns that South Korea and China will clamp down on cryptocurrency trading has sparked a recent rout for bitcoin and other digital currencies. South Korea’s head of the Financial Services Commission told parliament today that the government may close “all local virtual currency exchanges or just the ones who have been violating the law,” according to Reuters.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/bitcoin-struggles-to-keep-grip-on-11000-as-it-tries-to-shake-off-selloff-2018-01-18
For today’s Closing Market Report click to listen->

Market Update Report 1/18/2018

The KUIK Market Update for Thursday, January 18:
Markets are down.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Down (65) points 26,051 7:49 AM
S&P500 Down -0.1% percent 2,799 (0.75)
Nasdaq Composite Down -0.1% percent 7,293 (8.63)
30 Year Treasury Up 2 Basis Points 2.87 Annual Yield
Freddie Mac reports mortgage rates are up again. The 30-year fixed-rate mortgage averaged 4.04% this week, up from last week’s 3.99%. A year ago it averaged 4.09%. The 15-year fixed averaged 3.49% up from 3.44%. A year ago it was 3.34%.
The acting director of the Consumer Financial Protection Bureau requested zero dollars in his second-quarter budget request, saying the agency has enough money for now. Mick Mullaney, who was recently appointed by President Trump, said the bureau has a reserve fund of $177 million and will will only need $145 million to fund operations during the second quarter. The prior director, Democrat Richard Cordray, had asked for $217 million in the prior quarter and $86.6 million two quarters ago. Most Republicans opposed the CFPB which was created under President Obama, and Mulvaney appears to have reined in the agency’s investigations since he took over.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://freddiemac.mwnewsroom.com/press-releases/mortgage-rates-move-higher-for-second-consecutive–otcqb-fmcc-1327698
https://www.marketwatch.com/story/mulvaney-says-consumer-protection-agency-needs-zero-dollars-2018-01-18
For today’s Market Update Report click to listen->

Morning Market Report 1/18/2018

The KUIK Morning Market Report for Thursday, January 18:
Markets are down slightly.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Down (19) points 26,096 7:09 AM
S&P500 Down 0.0% percent 2,802 (0.75)
Nasdaq Composite Down -0.2% percent 7,285 (8.63)
30 Year Treasury Up 3 Basis Points 2.88 Annual Yield
The Labor Department reports initial claims for unemployment benefits fell by 41,000 to 220,000 in the week ended January 13, for the biggest one-week drop since 2009. New claims touched the lowest level since February 1973.Continuing claims rose by 76,000 to 1.95 million the week before.
The Commerce Department reports construction on new homes fell 8.2% in December to 1.19 million annually. Economists expected 1.28 million. Single-family starts dropped 11.8%, but construction on buildings with five or more units rose 2.6%. Permits were flat at 1.30 million.
The Philadelphia Fed said its manufacturing index fell to five-month low of 22.2 in January. Any reading above zero indicates improving conditions. Confidence is still strong, but is returning to more normal levels after a big run up in 2017. New-orders fell but shipments rose.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/jobless-claims-sink-41000-to-45-year-low-of-220000-2018-01-18
https://www.marketwatch.com/story/us-housing-starts-fizzle-at-end-of-2017-2018-01-18
https://www.marketwatch.com/story/philadelphia-fed-manufacturing-index-drops-to-five-month-low-in-january-2018-01-18
For today’s Morning Market Report click to listen->

Closing Market Report 1/17/2018

The KUIK Closing Market Report for Wednesday, January 17:
Markets had a big up day.
Index Direction Change Units Index Time Change
Dow Up 323 points 26,116 2:03 PM
S&P500 Up 0.9% percent 2,803
Nasdaq Composite Up 1.0% percent 7,298
30 Year Treasury Up 1 Basis Points 2.85 Annual Yield
The Federal Reserve said the pace of growth continues to be “modest to moderate” in the latest Beige Book which is a snapshot of the economy. The report covers late November to January 8. Most districts reported “on-going labor market tightness and challenges finding qualified workers across skills and sectors.” The shortage of workers is holding back growth in some districts. Wages and prices both increased at modest paces.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/feds-beige-book-finds-muted-reaction-to-republican-tax-plan-2018-01-17
For today’s Closing Market Report click to listen->

Market Update Report 1/17/2018

The KUIK Market Update for Wednesday, January 17:
Markets are up.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Up 115 points 25,907 8:01 AM
S&P500 Up 0.3% percent 2,785 (0.02)
Nasdaq Composite Up 0.3% percent 7,249 (8.63)
30 Year Treasury Down (2) Basis Points 2.81 Annual Yield
Senators are hard at wok salvaging a plan protecting “Dreamers” who are young undocumented immigrants who were brought to the U.S. by their parents—as the divide grows over an immigration deal which is key to avoiding a government shutdown this weekend. The White House cinsistsg that Congress allocate billions more for President Trump’s border wall with Mexico. Without a spending agreement by 12:01 a.m. Saturday, the government will partially shut down operations.
The National Association of Home Builders’ monthly confidence index dropped two points to 72 in January. It hit an 8-year high in December, and economists expected only a one-point drop. The current sales conditions and future sales were both down a point, while buyer traffic fell four points. The association said “building material price increases and shortages of labor and lots” ares the biggest concerns for its members. But builders are optimistic about profit-boosting tax cuts and strong demand for homes.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/disputes-threaten-dreamer-deal-and-a-government-shutdown-2018-01-17
https://www.marketwatch.com/story/home-builder-confidence-loses-steam-but-still-signals-upside-market-momentum-2018-01-17
For today’s Market Update Report click to listen->

Morning Market Report 1/17/2018

The KUIK Morning Market Report for Wednesday, January 17:
Markets are up.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Up 90 points 25,883 7:09 AM
S&P500 Up 0.2% percent 2,781 (0.02)
Nasdaq Composite Up 0.2% percent 7,241 (8.63)
30 Year Treasury Down (1) Basis Points 2.83 Annual Yield
Industrial production rose 0.9% in December for the fourth month in a row, according to the Federal Reserve. Wall Street expected only a 0.6% increase. For the fourth quarter, production jumped at an 8.2% annual rate, after a 1.3% drop in the third due to hurricane damage. For the calendar year, production rose 3.6%, up from a 0.8% gain in 2016 and the fastest pace since 2010. Output by manufacturers only rose 0.1% while most of the gain came from mining up 1.6% and utilities up 5.6%. Production by auto makers rose 2%. Capacity utilization rose to 77.9% the highest rate since February 2015.
Senators are hard at wok to salvage a bipartisan plan to protect “Dreamers” young undocumented immigrants brought to the U.S. by their parents—as the divide grows over an immigration deal which is key to avoiding a government shutdown this weekend. The White House cinsistsg that Congress allocate billions more for President Trump’s border wall with Mexico. Without a spending agreement by 12:01 a.m. Saturday, the government will partially shut down operations.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/industrial-output-jumps-09-in-december-for-the-fourth-straight-monthly-gain-2018-01-17
https://www.marketwatch.com/story/disputes-threaten-dreamer-deal-and-a-government-shutdown-2018-01-17
For today’s Morning Market Report click to listen->

Closing Market Report 1/16/2018

The KUIK Closing Market Report for Tuesday, January 16:
Markets ended down after a strong open this morning.
Index Direction Change Units Index Time Change
Dow Down (10) points 25,793 2:09 PM
S&P500 Down -0.4% percent 2,776
Nasdaq Composite Down -0.5% percent 7,224
30 Year Treasury Down (2) Basis Points 2.84 Annual Yield
The top 10 cryptocurrencies by market capitalization all had big drops today, according to CoinMarketCap.com data. Bitcoin is off 24% to $10,651, No. 2 Ethereum is down 27%, Ripple off 40% and bitcoin cash down 30%. The selloff follows reports that the South Korean Finance Minister said banning trading in virtual currencies was “a live option.” That has added to worries about a potential crackdown in the world’s third-largest crypto trading market.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/bitcoin-tumbles-to-6-week-low-as-top-cryptocurrencies-all-sell-off-2018-01-16?dist=markets
For today’s Closing Market Report click to listen->

Market Update Report 1/16/2018

The KUIK Market Update for Tuesday, January 16:
Markets are up.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Up 173 points 25,976 8:00 AM
S&P500 Up 0.4% percent 2,797 (0.02)
Nasdaq Composite Up 0.6% percent 7,305 (8.63)
30 Year Treasury Down (2) Basis Points 2.84 Annual Yield
China’s Dagong Global Credit Rating Co. has downgraded its credit ratings for U.S. government debt, citing political "deficiencies." Dagong is one of China’s major ratings agencies. It announced the cut in the local and foreign-currency sovereign ratings for the US from A- to BBB+.
The New York Fed reports the Empire State manufacturing survey fell to 17.7 in January from a revised 19.6 in December. Economists expected 18.6. This is the third straight monthly decline after the index hit 28.1 in October. New-orders and shipments fell while unfilled orders and inventory rose and future inventories hit a record high.
The price of bitcoin is down 11% to around $12,100, underlining a broad selloff among the world’s virtual currencies spurred by nagging fears of increased regulatory scrutiny in South Korea as well as ohter countries. The total value of cryptocurrencies tracked by CoinMarketCap.com is about $590 billion, the lowest since December and down 30% from its peak reached last week.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/chinas-dagong-cuts-us-rating-after-tax-reforms-2018-01-16
https://www.marketwatch.com/story/empire-state-factory-gauge-softens-a-bit-in-january-2018-01-16
For today’s Market Update Report click to listen->

Morning Market Report 1/16/2018

The KUIK Morning Market Report for Tuesday, January 16:
Markets are up.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Up 257 points 26,060 7:13 AM
S&P500 Up 0.7% percent 2,804 (0.02)
Nasdaq Composite Up 0.8% percent 7,318 (8.63)
30 Year Treasury Down (2) Basis Points 2.84 Annual Yield
China’s Dagong Global Credit Rating Co. has downgraded its credit ratings for U.S. government debt, citing political "deficiencies." Dagong is one of China’s major ratings agencies. It announced the cut in the local and foreign-currency sovereign ratings for the US from A- to BBB+. Dagong said the Trump administration’s "massive tax cuts directly reduce the federal government’s sources of debt repayment, therefore further weakens the base of government’s debt repayment. The tax cuts act implemented from 2018 did not attack the root cause of the unsustainable debt-driven economy of the U.S., so it is projected that the U.S. economy [grows] only 2.3% in 2018, and would grow even more slowly in the years after."
The New York Fed reports the Empire State manufacturing survey fell to 17.7 in January from a revised 19.6 in December. Economists expected 18.6. This is the third straight monthly decline after the index hit 28.1 in October. New-orders and shipments fell while unfilled orders and inventory. Future inventories hit a record high, suggesting firms will add to inventories in coming months.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/chinas-dagong-cuts-us-rating-after-tax-reforms-2018-01-16
https://www.marketwatch.com/story/empire-state-factory-gauge-softens-a-bit-in-january-2018-01-16
For today’s Morning Market Report click to listen->

Closing Market Report 1/12/2018

The KUIK Closing Market Report for Friday, January 12:
Markets were up.
Index Direction Change Units Index Time Change
Dow Up 228 points 25,803 2:40 PM
S&P500 Up 0.7% percent 2,786
Nasdaq Composite Up 0.7% percent 7,261
30 Year Treasury Down (1) Basis Points 2.89 Annual Yield
Wal-Mart Stores said it will take about a 14 cents-per-share charge mostly in the fourth quarter for reorganizing Sam’s Club and closing 63 stores. Twelve of the 63 locations will be converted to e-commerce fulfillment centers and 597 stores will remain. Sam’s CEO John Furner said the company is working to place as many displaced associates as possible to other locations. About 10,000 jobs will be affected, according to The Wall Street Journal.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/wal-mart-to-take-a-charge-associated-with-sams-club-closures-2018-01-12
For today’s Closing Market Report click to listen->

Market Update Report 1/12/2018

The KUIK Market Update for Friday, January 12:
Markets are up.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Up 203 points 25,777 7:57 AM
S&P500 Up 0.6% percent 2,784 (0.02)
Nasdaq Composite Up 0.5% percent 7,250 (8.63)
30 Year Treasury Unchanged Basis Points 2.87 Annual Yield
The Commerce Department reports sales at retailers rose 0.4% in December for the fourth straight monthly gain. The increase was slightly below the MarketWatch forecast of 0.5%, but November and October were both revised higher. Excluding autos and gasoline, retail sales also rose 0.4% last month. They show the big divide between fast-growing internet retailers and old-fashioned department stores. Sales on the internet jumped 1.2%, while sales at department stores fell 1.1%. That was the biggest decline in a year and a half.
The Federal Reserve may have to “press harder on the brakes” at some point over the next few years, increasing the risk of a hard landing for the economy, according to New York Fed President William Dudley. in a speech to the Securities and Financial Markets Association he said "The risk of economic overheating seems like an odd issue to focus on when inflation is low" but that this is a real risk over the next few years.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/holiday-retail-sales-a-case-of-haves-havenots-2018-01-12
https://www.marketwatch.com/story/gimme-shelter-cpi-rises-01-in-december-mostly-on-higher-housing-costs-2018-01-12
For today’s Market Update Report click to listen->

Morning Market Report 1/12/2018

The KUIK Morning Market Report for Friday, January 12:
Markets are up.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Up 150 points 25,724 7:15 AM
S&P500 Up 0.3% percent 2,776 (0.02)
Nasdaq Composite Up 0.1% percent 7,222 (8.63)
30 Year Treasury Up 2 Basis Points 2.89 Annual Yield
The Commerce Department reports sales at retailers rose 0.4% in December for the fourth straight monthly gain. The increase was slightly below the MarketWatch forecast of 0.5%, but November and October were both revised higher. Excluding autos and gasoline, retail sales also rose 0.4% last month. They show the big divide between fast-growing internet retailers and old-fashioned department stores. Sales on the internet jumped 1.2%, while sales at department stores fell 1.1%. That was the biggest decline in a year and a half. Sales also fell at stores that sell appliances and electronics, clothing and sporting goods, and hobby items. Top stores joining internet sellers at the top of the heap were restaurants, home and garden stores, and home furnishings. Auto sales rose 0.2% and sales at gasoline stations were flat.
The Federal Reserve reports the consumer price index rose 0.1% in December. 80% of that increase was due to the highesr cost of housing but it matched expectations. If gas and food are staken out, the core rate of inflation rose a faster 0.3%, the highest reading in almost a year.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/holiday-retail-sales-a-case-of-haves-havenots-2018-01-12
https://www.marketwatch.com/story/gimme-shelter-cpi-rises-01-in-december-mostly-on-higher-housing-costs-2018-01-12
For today’s Morning Market Report click to listen->

Closing Market Report 1/11/2018

The KUIK Closing Market Report for Thursday, January 11:
Markets were up.
Index Direction Change Units Index Time Change
Dow Up 206 points 25,575 1:26 PM
S&P500 Up 0.7% percent 2,768
Nasdaq Composite Up 0.8% percent 7,212
30 Year Treasury Down (3) Basis Points 2.87 Annual Yield
The Trump administration issued guidelines today that allow states to impose the work requirements on Medicaid beneficiaries, one of the biggest changes in the program’s 50-year history. The guidelines issued by the Centers for Medicare and Medicaid Services, for states that decide to change the program from a guaranteed benefit based on income to a program that can deny aid to adults if certain conditions aren’t met. States can determine what can qualify as work under the requirements, such as education or community service.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/trump-administration-to-let-states-impose-work-requirements-on-medicaid-beneficiaries-2018-01-11
For today’s Closing Market Report click to listen->

Market Update Report 1/11/2018

The KUIK Market Update for Thursday, January 11:
Markets are up.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Up 101 points 25,470 7:52 AM
S&P500 Up 0.3% percent 2,756 (0.02)
Nasdaq Composite Up 0.3% percent 7,173 (8.63)
30 Year Treasury Up 1 Basis Points 2.90 Annual Yield
The Labor Department reports new claims for unemployment benefits rose by 11,000 to 261,000 the week ended Jan. 6. That’s the highest level since the middle of September and above the 248,000 expected by economists. Continuing claims fell by 35,000 to 1.87 million. The U.S. labor market enters 2018 in the best shape in almost 20 years. The economy added 2 million jobs last year . Unemployment is just 4.1%. The chief of the U.S. Chamber of Commerce says businesses simply can’t find enough skilled workers.
Freddie Mac reports mortgage rates are up. The 30-year fixed-rate mortgage averaged 3.99% the week, up from last week’s 3.95%. A year ago it was 4.12%. The 15-year fixed averaged 3.44% up from 3.38%. A year ago it was 3.37%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/jobless-claims-hit-nearly-4-month-high-at-start-of-2018-2018-01-11
http://freddiemac.mwnewsroom.com/press-releases/mortgage-rates-bounce-back-up-otcqb-fmcc-1327571
For today’s Market Update Report click to listen->

Morning Market Report 1/11/2018

The KUIK Morning Market Report for Thursday, January 11:
Markets are up.
Index Direction Change Units Index Time Change
Dow Jones Industrial Average Up 82 points 25,452 7:05 AM
S&P500 Up 0.3% percent 2,757 (0.02)
Nasdaq Composite Up 0.3% percent 7,173 (8.63)
30 Year Treasury Up 1 Basis Points 2.90 Annual Yield
The Labor Department reports new claims for unemployment benefits rose by 11,000 to 261,000 the week ended Jan. 6. That’s the highest level since the middle of September and above the 248,000 expected by economists. Continuing claims fell by 35,000 to 1.87 million. The U.S. labor market enters 2018 in the best shape in almost 20 years. The economy added 2 million jobs last year . Unemployment is just 4.1%. The chief of the U.S. Chamber of Commerce says businesses simply can’t find enough skilled workers.
Wholesale inflation is moving up. The producer price index climbed 2.6% in 2017. That was the fastest increase in six years despite December’s slight 0.1% drop. The core PPI which strips out food, energy and trade margins rose by 0.1%. An upward move in prices could push the Federal Reserve to raise interest rates more aggressively, especially if accompanied by higher wages.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
https://www.marketwatch.com/story/jobless-claims-hit-nearly-4-month-high-at-start-of-2018-2018-01-11
https://www.marketwatch.com/story/us-wholesale-inflation-in-2017-hits-6-year-high-2018-01-11
For today’s Morning Market Report click to listen->