The KUIK Morning Market Report for Tuesday, April 18:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(71)
points
20,566
7:05 AM
S&P500
Down
-0.2%
percent
2,345
(4.17)
Nasdaq Composite
Down
-0.1%
percent
5,852
(5.27)
30 Year Treasury
Down
(3)
Basis Points
2.88
Annual Yield
The Commerce Department reports housing starts in March fell 6.8% to a seasonally adjusted annual rate of 1.22 million. That was 9.2% higher than a year ago, but below the 1.24 million expected by economists. But housing permits jumped 3.6% to a 1.26 million rate, suggesting stronger starts may be ahead. Permits were 17% higher than in March 2016.
In a surprise move, U.K. Prime Minister Theresa May has announced plans for an early general election on June 8. In an unscheduled speech May said an election is needed because other parties in parliament are opposed to the Conservative-led government’s Brexit plans. May’s Conservativesy currently have a 17 member parliamentary majority. Since taking office last summer she has consistently ruled out a snap election. As recently as last month, her office said an early vote was off the table and there wasn’t going to be an election until the planned ballot in 2020.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
