The KUIK Morning Market Report for Tuesday, January 10:
Markets are mixed.
Index
Direction
Change
Units
Time
Dow
Down
(14)
points
19,870
7:13 AM
S&P500
Down
-0.1%
percent
2,268
Nasdaq Composite
Up
0.0%
percent
5,533
30 Year Treasury
Unchanged
–
Basis Points
2.97
Annual Yield
Congressional Republicans are pressing forward with plans this weekk to repeal the Affordable Care Act and remake the tax code. The GOP is expected to use budget reconciliation to make policy changes. Reconciliation allows lawmakers to fast-track legislation dealing with spending or revenue. In the Senate — which Republicans control with 52 votes — a reconciliation bill takes a simple majority to pass. For many other bills, a 60 votes are required . In the case of Obamacare, Republicans would repeal much of it through simple majority vote. Congressional Republicans and President-elect Donald Trump are seek tax cuts for corporations and individuals.
The National Federation of Independent Business said its optimism index for December rose 7.4 to 105.8. Economists expected 99.6. Small-business owners have been happy since the presidential election. In November, the index rose above its 42-year average of 98. The December gain exceeded the recent cycle high of 100.3 from late 2014 for the first time.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
