The KUIK Morning Market Report for Friday, February 10:
Markets are up.
Index
Direction
Change
Units
Time
Dow
Up
55
points
20,227
7:06 AM
S&P500
Up
0.2%
percent
2,311
Nasdaq Composite
Up
0.0%
percent
5,718
30 Year Treasury
Up
2
Basis Points
3.03
Annual Yield
The Commerce Department reports import prices rose 0.4% in January after a revised 0.5% gain in December. January’s rise was the third in four months. Over the past 12 months import prices are up 3.7%, the highest level since 2012 mostly because of higher oil prices. If oil is left out, the cost of imported goods actually fell 0.2% in January. And they are flat over the past year. That suggests prices are still not rising very quickly for most goods.
The U.S. dollar is up. The ICE U.S. dollar index which measure the buck against six other major currencies is up 0.3% to 100.97. it’s up 1.3%For the week. It extended its gains after President Trump pledged to unveil a tax plan in coming weeks. He didn’t give details yesterday when he met with airline executives, but he said that he would make a tax announcement within the next three weeks and it would be “phenomenal. ” Throughout the campaign he has proposed corporate tax cuts. Investors expect his economic policies, which include infrastructure spending, to accelerate growth and raise inflation.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
