The KUIK Morning Market Report for Wednesday, March 22:
Markets are mixed.
Index
Direction
Change
Units
Time
Dow
Down
(67)
points
20,607
7:12 AM
S&P500
Down
-0.3%
percent
2,338
Nasdaq Composite
Down
0.0%
percent
5,791
30 Year Treasury
Down
(5)
Basis Points
3.00
Annual Yield
Nike is off 5% to %54.99 a share following weaker-than-expected guidance it gave after yesterday’s close. The athletic apparel company reported worldwide futures orders, a measure of future sales, fell 4% and that it anticipates current-quarter sales growth in the mid-single-digit percentages. CEO Mark Parker said online shopping trends have made for a more competitive environment.
Treasury yields have fallen to their lowest levels in three weeks as congressional Republicans struggled to convince certain conservative legislators to support their plan to repeal and replace Obamacare. The controversy has prompted investors to revise their expectations for how quickly President Trump will be able to implement the sweeping fiscal reforms he promised during his campaign, including corporate-tax cuts, increased infrastructure spending, and deregulation. Republicans have proposed a bill that would roll back an expansion of Medicaid. Democrats fear that the bill will eliminate coverage for millions of Americans. They have joined with conservative lawmakers who believe it leaves too much of Obamacare intact in opposing the legislation.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
