The KUIK Morning Market Report for Wednesday, December 23:
Markets are up.
Index Direction Change Units Time
Dow Up 115 points 17,532 7:03 AM
S&P500 Up 0.7% percent 2,054
Nasdaq Composite Up 0.7% percent 5,034
30 Year Treasury Up 4 Basis Points 3.00 Annual Yield
The Commerce Department reports that orders for durable goods were unchanged in November. That follows a 2.9% increase in October. They would have fallen 1.5% if not for an large increase in orders from the Pentagon. Orders for new cars and trucks rose 1.5% but there was a 22.2% drop in bookings for commercial jets. Orders minus transportation fell 0.1%. Orders for core capital-goods, which do not include aircraft and defense, fell 0.4% in November after two months of gains but have fallen 1.8% over the past year.
The Commerce department also reported that consumer spending rose a seasonally adjusted 0.3% in November after a flat October.Incomes 0.3%. In inflation-adjusted terms, spending has risen at a subdued 2.5% pace in the past year while incomes after taxes have climbed a faster 3.5%. The U.S. rate was 5.5% and is near a three-year high. Inflation is also picking up. The Personal Consumption Index rose 0.4% from November 2014.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/orders-for-durable-goods-flatline-in-november-2015-12-23
http://www.marketwatch.com/story/consumer-spending-inflation-both-pick-up-2015-12-23
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