The KUIK Morning Market Report for Wednesday, January 18:
Market are mixed.
Index
Direction
Change
Units
Time
Dow
Down
(17)
points
19,812
7:18 AM
S&P500
Up
0.1%
percent
2,270
Nasdaq Composite
Up
0.2%
percent
5,551
30 Year Treasury
Up
4
Basis Points
2.97
Annual Yield
The Labor Department reports the consumer price index jumped 0.3% in December which matched expectations. Excluding food and energy, consumer prices rose 0.2%. A string of gains since summer drovee up inflation by 2.1% for all of 2016, for fhe biggest increase since a 3% gain in 2011. Americans are paying more for fuel, housing, and medical care, but less for food. Rents are up 4.0 nationwide, and medical care is up 4.3%. Inflation-adjusted wages rose 0.8% in 2016, and a smaller 0.5% for most employees not in management positions.
The Federal Reserve reported industrial production rebounded in December by the largest amount in two years though the monthly advance was led by utilities output after an unusually warm November. Utilities output rose 6.6%, mining was flat and manufacturing gained 0.2%. Production fell at a 0.6% annually in the fourth quarter, down from 1.8% in the third quarter. Produciton is up 0.5% compared to the third quarter of 2015. Capacity utilization rose to 75.5% from December’s downwardly revised 74.9%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
