| The KUIK Market Update for Monday, November 17: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (1) | points | 17,634 | 7:49 AM | ||
| S&P500 | Down | -0.1% | percent | 2,038 | (1.62) | ||
| Nasdaq Composite | Down | -0.4% | percent | 4,671 | (17.31) | ||
| 30 Year Treasury | Up | 3 | Basis Points | 3.07 | Annual Yield | ||
| The Empire State manufacturing index rose to 10.2 in November up from 6.2 in October according to the New York Federal Reserve. Economists expected 10.5. Readings above zero mean improving conditions. The index was at 27.5 in September. The new orders were positive in November but unfilled orders, delivery times, and the average employee workweek are still negative. The index for expected general conditions rose to 47.6, its highest level since January 2012. | |||||||
| The Federal Reserve announced today it is meeting with representatives from 15 banks, and U.S. and foreign regulators to discuss the process for developing risk-free reference rate alternatives to the current London Interbank Offered Rate that’s LIBOR. Regulators fined banks billions of dollars over colluding to set Libor-based contracts. The Fed said it’s interested in working toward reference rates that are low risk, and that are based on a robust and liquid underlying market. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/empire-state-index-rebounds-to-102-in-november-2014-11-17 | |||||||
| http://www.marketwatch.com/story/fed-meeting-with-major-banks-regulators-to-develop-libor-alternative-2014-11-17 | |||||||
| For today’s Market Update Report click to listen-> | |||||||