The KUIK Market Update for Friday, February 26:
Markets are up.
Index Direction Change Units Time
Dow Up 45 points 16,743 6:00 PM
S&P500 Up 0.4% percent 1,960
Nasdaq Composite Up 0.6% percent 4,608
30 Year Treasury Up 6 Basis Points 2.63 Annual Yield
In China, the Shanghai Composite Index finished up 1% at 2,767.21, as a meeting in Shanghai of the Group of 20 industrialized nations got under way. A sharp drop in stocks on Thursday had increased pressure on China to address concerns about its economy and financial markets at the meeting. At a news conference, China’s top central banker, Zhou Xiaochuan, told China’s trading partners that Beijing won’t drastically weaken the Chinese currency and that it has sufficient tools to support the economy.
Here in the US consumer sentiment hit a three-month low in February. The University of Michigan index finished the month at 91.7, down from January’s 92.
The Commerce Department reports inflation is up. The 12-month rate of inflation, as measured by the Personal Consumption Expenditures index, rose from 0.7% in December to 1.3% in January, hitting the highest level since the fall of 2014.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/china-stocks-improve-a-day-after-tumble-2016-02-25
http://www.marketwatch.com/story/consumer-sentiment-was-at-three-month-low-in-february-2016-02-26
http://www.marketwatch.com/story/us-inflation-rate-in-past-12-months-doubles-to-13-in-january-2016-02-26
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