The KUIK Morning Market Report for Friday, January 13:
Markets are up.
Index
Direction
Change
Units
Time
Dow
Up
29
points
19,920
7:18 AM
S&P500
Up
0.3%
percent
2,277
Nasdaq Composite
Up
0.5%
percent
5,577
30 Year Treasury
Up
6
Basis Points
3.02
Annual Yield
The Labor Department reports wholesale inflation rose in December, with the producer price index up 0.3%. That matched expectations. The index is up 1.6% from a year ago for the strongest gain since September 2014 as energy prices start to head up.Excluding food, energy, and trade margins, prices were up 1.7%.
The Commerce Department reports retail sales rose 0.6% in December, which was below the 0.8% expected by economists. It was help by auto dealers who set a record in December. Excluding the auto sector that accounts for 20% of retail sales, sales rose only 0.2%. Internet stores were the only other retailers to post strong gains. Nonstore sales were up 1.3%. Online retailers saw a 13.2% increase in sales in 2016, taking more market share away from traditional brick-and-mortar department stores. Those stores had a 0.6% drop in sales in December and an 8.4% drop for the full year.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
