The KUIK Morning Market Report for Thursday, December 15:
Markets are up.
Index
Direction
Change
Units
Time
Dow
Up
103
points
19,895
7:19 AM
S&P500
Up
0.5%
percent
2,264
Nasdaq Composite
Up
0.5%
percent
5,463
30 Year Treasury
Unchanged
–
Basis Points
3.15
Annual Yield
The Labor Department reports new applications for unemployment benefits fell by by 4,000 to 254,000 last week. Economists expected 250,000. Continuing claims rose by 11,000 to 2.02 million in the week ended December 3.
The Philadelphia Fed manufacturing index for December jumped to a reading of 21.5, its highest in two years up from 7.6 in November. The New York Fed reports the Empire State index rose to 9 up from November’s 1.5. Readings above zero indicate improving conditions. Both gauges had big jumps for measures of future conditions.The Empire State future business conditions shot up 20 points to 50.2, the highest level in nearly five years. The Philly Fed future general activity rose to 52.6 from 29.3 in November, its highest level since January 2015.
he Federal Open Market Committee concluded its two-day policy meeting yesterday. The Fed increased its target range for the fed funds rate a quarter point to beween 0.5% and 0.75%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
