The KUIK Morning Market Report for Friday, August 25:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
85
points
21,869
6:55 AM
S&P500
Up
0.5%
percent
2,451
12.33
Nasdaq Composite
Up
0.5%
percent
6,301
29.83
30 Year Treasury
Down
(1)
Basis Points
2.76
Annual Yield
The Commerce Department reports orders for durable goods fell 6.8% in July, led by a drop in aircraft orders. It was the biggest decline since August 2014 but followed a 6.4% gain in June. Economists expected a 6.9% drop. The see-saw pattern in orders was due to the volatile civilian aircraft sector. Boeing reported orders for 22 new planes in July versus 184 in the June. Excluding transportation, orders for durable goods rose 0.5%, the third straight monthly gain. Orders for core capital goods, which are proxy for business investment, rose 0.4%. They have not declined since December. But orders excluding defense fell 7.8%, the biggest drop in three years.
President Trump next week will make a major push to reform tax policy, according to The Financial Times. "He will start being on the road making major addresses justifying the reasoning for tax reform and why we need it in the U.S.," says Gary Cohn, Trump’s chief economic adviser. The president is slated to begin a series of tax-focused speeches on Wednesday in Missouri.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
