The KUIK Morning Market Report for Tuesday, July 11:
Markets are mixed.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(7)
points
21,404
7:15 AM
S&P500
Down
-0.1%
percent
2,425
(2.15)
Nasdaq Composite
Up
0.2%
percent
6,187
10.43
30 Year Treasury
Up
1
Basis Points
2.93
Annual Yield
The National Federation of Independent Business monthly sentiment tracker for June fell 0.9 to 103.6, the fifth-straight month it fell or was unchanged. The index is halfway between its pre-election reading of 98.4, and 105.8, whee it hit after the upset election of Donald Trump. Economists expected no change. Sentiment has “sustained” that post-election surge, NFIB said in a release, but warned that small business owners are losing patience with policymakers’ inability to pass the promised health care and tax reform legislation.
President Trump nominated Randal Quarles, an investment-fund manager and former Republican Treasury official, to be the central bank’s top official in charge of regulating big banks. The choice of Quarles has been expected for months, and will put an industry-friendly voice as the Federal Reserve’s vice chairman of supervision. That job was created by Congress in 2010 but never filled during the Obama administration.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
