The KUIK Closing Market Report for Friday, December 2:
Markets were mixed.
Index
Direction
Change
Units
Index
Time
Change
Dow
Down
(21)
points
19,190
7:19 PM
S&P500
Unchanged
0.0%
percent
2,192
0.87
Nasdaq Composite
Up
0.1%
percent
5,256
4.55
30 Year Treasury
Down
(4)
Basis Points
3.06
Annual Yield
The nation’s unemployment rate fell to a nine-year low in November and strong job growth continued, with the economy adding 178,000 new jobs in the month. The U.S. government data suggests the Federal Reserve is all but certain to raise interest rates later this month and may have to move rates at a faster pace and higher than markets prevoiusly expected . Surging oil prices fueled expectations that inflation will accelerate in 2017. The 30-year yield rose to 3.1%, its highest level in 13 months. WHEN bond investors expect inflation to rise more aggressively, they demand higher yields to compensate for the corrosive effect that inflation has on real returns.
Serving the West Side first I am Mike Elerath of BR Capital for 1360 KUIK.
