The KUIK Morning Market Report for Tuesday, September 26:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
56
points
22,354
7:15 AM
S&P500
Up
0.3%
percent
2,503
6.33
Nasdaq Composite
Up
0.5%
percent
6,400
29.56
30 Year Treasury
Up
2
Basis Points
2.78
Annual Yield
Sen. Lindsey Graham vowed to bring the Obamacare repeal bill that he’s co-sponsoring to a vote this week, even though it appears doomed. The South Carolina Republican said in a CNN debate Monday that the bill was “a damn good idea,” although earlier in the day Sen. Susan Collins, R-Maine, said she would oppose it. The Congressional Budget Office released a partial estimate of the Graham-Cassidy bill’s effects, predicting it would cut the deficit by $133 billion over 10 years, but millions of people would lose health coverage. The bill faces a Saturday deadline, and the GOP can only afford two dissenting votes.
Federal Reserve Bank of Minneapolis President Neel Kashkari reiterated Monday that he believes raising rates right now is a bad idea. He is a voting member of the Federal Open Market Committee, which met last week and maintained its short-term interest rate target between 1% and 1.25%. It also announced the start of a program to shrink its $4.5 trillion balance sheet . Kashkari voted against the Fed’s two rate rises this year, believing they are unjustified in light of weak inflation that’s belowthe Fed’s 2% target.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
