The KUIK Morning Market Report for Friday, December 9
Stocks opened higher after Thursday’s record runup.
Index
Direction
Change
Units
Time
Dow
Up
21
points
19,636
10:10 AM
S&P500
Up
0.2%
percent
2,251
Nasdaq Composite
Up
0.4%
percent
5,441
30 Year Treasury
Up
8
Basis Points
3.11%
Annual Yield
U.S. stock futures were pointing to a positive open on Wall Street Friday, with the main benchmarks extending record runs, though some analysts are warning a correction may lie ahead. The Dow Jones Industrial Average, the S&P 500 Index, and the Nasdaq Composite Index, all looked set to trade in record territory after Thursday’s rally, when five major U.S. stock benchmarks finished at record levels.
The number of Americans who applied for unemployment benefits in early December fell by 10,000 to 258,000, keeping the pace of layoffs near the lowest level in more than 40 years as the holiday season got under way. The level of claims matched Wall Street estimates.
Treasury yields were essentially flat on Friday, though they remained on track for modest weekly gains. Chinese data released this week showed that consumer and wholesale price-growth accelerated at a faster than expected pace last month. Because China is the world’s second-largest economy, the rise portends a pickup in global inflation expectations.
Serving the West Side first, I am Mike Elerath of BR Capital for 1360 KUIK.
