The KUIK Morning Market Report for Wednesday, March 1:
Markets are up.
Index
Direction
Change
Units
Time
Dow
Up
246
points
21,058
7:26 AM
S&P500
Up
1.1%
percent
2,389
Nasdaq Composite
Up
1.0%
percent
5,882
30 Year Treasury
Up
10
Basis Points
3.07
Annual Yield
The Commerce Department reports inflation in January hit the highest annual rate since October 2012, offsetting rising household incomes and raising the odds of an interest rate hike. The Personal Consumption Expenditures index was up 0.4% in January, pushing inflation to 1.9% annually, up from 1.6% in December. Consumer spending rose 0.2%. Economists expected 0.4%, but incomes also rose 0.4%. The rise in inflation over the past year is linked to the rebound in the cost of oil,but rent and medical care have also increased. The savings rate was unchanged at 5.5%
The Institute for Supply Management said its manufacturing index rose to 57.5% from 56% in January. It’s the highest reading since August 2014. Economists expected 56.5%. Readings above 50% indicate improving conditions. New-orders and production both rose, though employment and prices were off slightly.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
