The KUIK Morning Market Report for Tuesday, January 31:
Markets are down.
Index
Direction
Change
Units
Time
Dow
Down
(113)
points
19,856
7:09 AM
S&P500
Down
-0.4%
percent
2,271
Nasdaq Composite
Down
-0.5%
percent
5,586
30 Year Treasury
Down
(1)
Basis Points
3.07
Annual Yield
The S&P/CoreLogic Case-Shiller 20-city index rose 5.3% annually in November, up from the October’s 5.1% annual pace. Seattle was first up 0.2% and 10.4% annually. Portland was second also up 0.2% for the month and 10.1% annually.
The Bureau of Labor Statistics reports the employment cost index rose 0.5% in the fourth quarter of 2016, below 0.6% gains in each of the past three quarters. Economists expected a seasonally adjusted 0.6% advance. The index reflects how much companies, governments, and nonprofits institutions pay their employees in wages and benefits. The index grew 2.2% in 2016 after a 2% gain in 2015. Wages rose 0.5%, and represent about 70% of a company’s cost to employ workers. Benefits rose a slower 0.4%, for the smallest increase since spring of 2015.
MNI Indicators report the Chicago Purchasing Managers Inex fell 3.6 to 50.3 down from a revised 53.9 in December. It is still expanding but below expectations. New orders are negative since December of 2015. Businesses surveyed did not expect increases in interest ratesto impact their companies in 2017.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
