The KUIK Morning Market Report for Wednesday, August 9:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(57)
points
22,028
7:04 AM
S&P500
Down
-0.4%
percent
2,466
(8.85)
Nasdaq Composite
Down
-0.7%
percent
6,326
(44.31)
30 Year Treasury
Down
(7)
Basis Points
2.80
Annual Yield
The stock market is on alert after President Trump echoed World War II-era comments made by President Harry Truman before ordering the use of nuclear force against Japan. “North Korea best not make any more threats to the United States,” Trump told reporters at his golf resort in Bedminster, N.J., warning that Pyongyang would be “met with fire and fury like the world has never seen.” That was followed by reports that North Korea was exploring a missile strike aimed at U.S. territory Guam.
The Labor Department reports that productivity which is how many goods and services U.S. workers produce per hour rose 0.9% annually in the second quarter up from 0.1% in the first. Unit labor cost is how much it costs a business to produce one unit of output, such as a ton of coal, a ream of paper or a bushel of wheat. It grew at a 0.6% rate in the second quarte down from 5.4% in the first. Economists expected a 0.7% gain in productivity and a 1.1% increase in unit labor costs. Gross domestic products accelerated to 2.6% annually, up from 1.8% inthe first quarter.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
