The KUIK Closing Market Report for Wednesday, April 5:
Markets were up.
Index
Direction
Change
Units
Index
Time
Change
Dow
Down
(41)
points
20,648
5:58 PM
S&P500
Down
-0.3%
percent
2,353
(7.21)
Nasdaq Composite
Down
-0.6%
percent
5,864
(34.13)
30 Year Treasury
Up
2
basis points
3.01
Annual Yield
The Federal Reserve released the minutes of its March policy meeting. Most officials said it was likely that the central bank would start to shrink its balance sheet this year. They discussed whether to phase out reinvestment of principal payments or doing it all at once. They support gradual interest rate hikes but that could change if the economy heats up. Some described the stock market as “quite high” by standard valuation measures. Financial conditions were seen as a doubled-edged sword, either providing greater stimulus from consumer spending or downside risks from a correction.
Serving the West Side first I am Bill Roller of BR Capital for 1360 KUIK.
