The KUIK Morning Market Report for Friday, September 15:
Markets are mixed.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
18
points
22,221
7:13 AM
S&P500
Down
-0.1%
percent
2,493
(2.24)
Nasdaq Composite
Up
0.0%
percent
6,430
0.74
30 Year Treasury
Down
(1)
Basis Points
2.77
Annual Yield
The Empire State manufacturing survey slipped to 24.4 in September from 25.2 in August, according to the New York Fed. Economists expected 19. Readings above zero indicate improving conditions. Subcomponents were also strong. New orders, shipments, and unfilled orders all rose. The Empire State is the first of the regional manufacturing surveys to be released. The Philadelphia Fed survey comes out next week. Economists expect a negative impact on national manufacturing due toHurricane Harvey.
Sales at retailers nationwide fell 0.2% for the biggest decline in six months, according to the Commerce Department. Economists expected no change. It was the second drop in three months, reflecting fewer car purchases and a reluctance by Americans to spend on consumer goods likeclothes and electronics. The auto industry accounts for about one-fifth of all sales. In August sales at auto dealers fell 1.6%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
