The KUIK Morning Market Report for Tuesday, August 15:
Markets are flat.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
3
points
21,997
7:02 AM
S&P500
Up
0.1%
percent
2,467
1.22
Nasdaq Composite
Up
0.0%
percent
6,340
0.08
30 Year Treasury
Up
4
Basis Points
2.84
Annual Yield
Stock markets look ready for their third straight advance. Tensions between the U.S. and North Korea appear to have lessend North Korean leader Kim Jong Un decided not to launch a threatened missile attack on Guam, according to Pyongyang’s state media. However, Kim warned that he could change his mind “if the Yankees persist in their extremely dangerous reckless actions.”
The New York Federal Reserve Bank’s Empire State manufacturing index surged 15 points to 25.2, its highest level in nearly three years. Economists had forecast an unchanged reading, to 9.8. Any reading over zero indicates improvement in business conditions. The subindexes were also strong. Shipments gauge rose 1.9 to 12.4, and number of employees and average workweek were also much higher. New orders rose 7.3 to 20.6, signalling stronger business conditions ahead. Firms are more optimistic. Views on future business conditions spiked ten points.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
