The KUIK Morning Market Report for Friday, July 14:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
12
points
21,544
6:40 AM
S&P500
Up
0.1%
percent
2,451
2.83
Nasdaq Composite
Up
0.2%
percent
6,288
13.85
30 Year Treasury
Down
(1)
Basis Points
2.88
Annual Yield
The consumer-price index, or cost of living, was unchanged last month according to the Labor Department. That was mostly due to lower gasoline prices. Economists expected a 0.1% increase. The rate of inflation over the past 12 months slowed 1.6% in June from 1.9% in May and it is down from five-year high of 2.7% five months ago.
The Commerce Department repors sales at retailers nationwide fell 0.2% in June for the second straight drop and matched the biggest decline of the year. Economists expected a 0.1% increase. Sales also fell 0.1% in May, though the decline was not as large as originally reported. Those disappointing sales figures suggest the U.S. has not rebounded quite as strongly in the spring after strong growth in the first quarter, that may give the Federal Reserve another reason to go slow in raising interest rates and shrinking its balance sheet. Most retail segments posted weaker results. Sales at gas stations had the biggest drop, down 1.3%. But sales also fell at grocers, restaurants, book stores, sporting-goods stores, and department stores while auto dealers reported a small increase.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
