The KUIK Morning Market Report for Tuesday, April 11:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(38)
points
20,621
7:09 AM
S&P500
Down
-0.3%
percent
2,349
(8.01)
Nasdaq Composite
Down
-0.4%
percent
5,857
(23.68)
30 Year Treasury
Down
(3)
Basis Points
2.96
Annual Yield
The National Federation of Independent Business said its monthly sentiment gauge fell 0.6 to 104.7, slightly more than the 0.5-point drop forecast by economists. The post-election surge was the biggest in the forty year history of the survey. The gauge rose in January but dropped in February. Some warning signs appeared in March. The uncertainty index rose to 93, its second-highest reading on record. Of the 10 survey components, only two increased. They were plans to increase employment and increase capital outlays. Owners say they’re struggling to find qualified labor with 85% reporting few or no qualified applicants for open positions. More survey respondents said finding qualified workers was their single biggest business problem than those citing weak sales.
Federal Reserve Chairman Janet Yellen said yesterday that the era of stimulative monetary policy was coming to an end. In a public discussion at the University of Michigan, Yellen said the Fed was moving away from its efforts to revive a recession-scarred economy and focusing instead on maintaining the gains of the past few years.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
