The KUIK Morning Market Report for Monday, February 27:
Markets are down.
Index
Direction
Change
Units
Time
Dow
Down
(35)
points
20,787
7:01 AM
S&P500
Down
-0.1%
percent
2,366
Nasdaq Composite
Down
-0.1%
percent
5,842
30 Year Treasury
Up
1
Basis Points
2.96
Annual Yield
In his first address to a joint session of Congress tomorrow night, President Trump will emphasize simplifying the tax code and dismantling the Affordable Care Act and replacing it with something else. He won’t push for curbing spending on Social Security or Medicare yet, two federal safety-net programs that Republicans have said for years must be overhauled to reduce the budget deficit.
Speaking of President Trump, over half of Americans think the media’s coverage of the president has been too critical, according to a Wall Street Journal/NBC News poll. 51% rate the media as too critical of Trump since the election, 41% say the coverage has been fair and objective, while 6% say the media hasn’t been critical enough.
The Commerce Department reports orders for durable goods climbed 1.8% in January. Economists expected 1.6%. The gain was due to a spike in contracts for commercial and military aircraft with commercial orders up 70% and military up 60%. Orders for new cars and trucks were up 0.2%. If transportation is removed, orders actually fell 0.2% in January for the first drop in six months.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
