The KUIK Morning Market Report for Wednesday, December 7:
Markets opened lower.
Index
Direction
Change
Units
Time
Dow
Down
(12)
points
19,239
9:54 AM
S&P500
Down
-0.1%
percent
2,209
Nasdaq Composite
Down
-0.4%
percent
5,311
30 Year Treasury
Down
3
Basis Points
3.05
Annual Yield
European stocks were trading at their highest in more than two months today, driven by a surge in bank shares on hopes of a state-backed rescue for struggling Italian lenders and as Credit Suisse said its restructuring plan is working.However, the bank lowered some profit targets that it set last year, while holding to the goals it set for wealth management units.
Paul McCulley, former chief economist for Pimco, says expect a rebounding U.S. economy to result from reductions in government regulations, high corporate taxes and a too-timid fiscal policy.
In politics and entertainment, TIME magazine’s person-of-the-year issue is President-elect Donald Trump.
Serving the West Side first, I am Mike Elerath of BR Capital for 1360 KUIK.
