The KUIK Morning Market Report for Tuesday, February 7:
Markets are mixed.
Index
Direction
Change
Units
Time
Dow
Up
87
points
20,140
7:16 AM
S&P500
Up
0.3%
percent
2,299
Nasdaq Composite
Up
0.4%
percent
5,684
30 Year Treasury
Up
2
Basis Points
3.07
Annual Yield
President Trump’s pick for labor secretary,Andy Puzder, said yesterday that he had employed an undocumented housekeeper but plans to continue with confirmation. In a statement from a spokesman, Puzder said he employed a housekeeper for a few years, during which he was unaware that she was not legally permitted to work in the U.S. When he learned of her status, he immediately ended her employment and offered her assistance in getting legal status, paid back taxes to the IRS and the State of California, and submitted all required paperwork. Puzder is chief executive of CKE Restaurants, parent company of the Carl’s Jr. and Hardee’s burger chains.
Loan standards for business lines of credit to industrial firms are expected to loosen this year, according to the Federal Reserve in its senior loan officer survey. However standards for commercial real-estate loans will continue to get tougher. Banks continued to tighten standards in the sector in the third and fourth quarters and demand for these loans is cooling. The Fed found that banks are worried that auto and credit-card loans will perform worse over the year and standerds are tightening there. For home loans the banks reported that they expect to ease standards and see asset quality improve.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
