The KUIK Closing Market Report for Wednesday, January 4:
Markets were up.
Index
Direction
Change
Units
Index
Time
Change
Dow
Up
60
points
19,942
3:54 PM
S&P500
Up
0.6%
percent
2,271
12.92
Nasdaq Composite
Up
0.9%
percent
5,477
47.92
30 Year Treasury
Unchanged
–
Basis Points
3.05
Annual Yield
Federal Reserve officials might have to raise interest rates faster than the “gradual” pace that they have stressed, according to minutes of the December meeting released today. By a unanimous vote on Dec. 14, the Fed raised its federal-funds range by a quarter point to 0.50%-0.75%, its second rate increase in a decade. At the same time, Fed officials said economic conditions will warrant only “gradual increases” in the federal-funds rate with three quarter-point rate increases in 2017. But the minutes of the meeting show the Fed may have to raise rates more aggressively.
Serving the West Side first I am Bill Roller of BR Capital for 1360 KUIK.
