The KUIK Morning Market Report for Monday, May 15:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
55
points
20,953
6:48 AM
S&P500
Up
0.3%
percent
2,399
8.10
Nasdaq Composite
Up
0.4%
percent
6,142
21.22
30 Year Treasury
Up
2
Basis Points
3.01
Annual Yield
The New York Fed reports the Empire State manufacturing survey fell to negative 1 in May from April’s positive 5.2 and far below March’s 16.4. Economists expected 7 where readings below zero indicate worsening conditions. New-orders fell 11.4 points to negative 4.4 in May, its lowest level in a year. Unfilled orders index dropped 16.1 points to negative 3.7. The Empire State is the first of the regional manufacturing surveys to be released. The Philadelphia Fed survey comes out Thursday.
Gold is up this morning, trying for its fourth-straight winning session, and platinum, copper and silver advanced sharply, on comments from the Chinese leadership Chinese president Xi Jinping said there will be about $100 billion in fresh financing in support for the “One Belt, One Road” initiative. The plan is China’s effort to link regions with infrastructure projects.
North Korea said it had successfully conducted a newly developed mid- to long-range missile test on Sunday aimed at verifying the capability to carry a “large scale heavy nuclear warhead,” according to Reuters, citing North Korean state media.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
