The KUIK Morning Market Report for Thursday, August 24:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(13)
points
21,799
7:03 AM
S&P500
Down
-0.1%
percent
2,441
(3.07)
Nasdaq Composite
Down
-0.1%
percent
6,269
(9.36)
30 Year Treasury
Up
1
Basis Points
2.76
Annual Yield
The Federal Trade Commission said it’s decided not to pursue an investigation of Amazon ‘purchase of Whole Foods. In a statement, Acting FTC Bureau of Competition Director Bruce Hoffman said the agency examined whether the deal "substantially lessened competition…or constituted an unfair method of competition."
President Trump said today that raising the U.S. debt ceiling is "now a mess" since House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell did not tie an increase to a veterans’ bill, that he requested. "Now we have a big deal with [Democrats] holding them up," Trump said on Twitter. On Monday, McConnell said there is "zero chance" the debt ceiling won’t be raised. Treasury Secretary Steven Mnuchin has said the Treasury can keep paying bills through September.
The Labor Department reports new claims for unemployment benefits increased by 2,000 to 234,000 the week that ended August 19. It hit a six month low ithe week before. Economists expected 238,000. Continuing claims were changed at 1.95 million August 12.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
