The KUIK Morning Market Report for Thursday, September 28:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(29)
points
22,309
7:19 AM
S&P500
Down
-0.1%
percent
2,504
(3.53)
Nasdaq Composite
Down
-0.3%
percent
6,433
(20.00)
30 Year Treasury
Up
2
Basis Points
2.88
Annual Yield
President Trump today waived the Jones Act for Puerto Rico at the request of the U.S. territory’s governor according to White House press secretary Sarah Huckabee Sanders. The act bans foreign-flagged ships from carrying goods between U.S. ports.
The U.S. economy’s rate of growth in for second quarter was raised to 3.1% from 3% according to the government’s latest revisions to gross domestic product. The value of inventories was revised up by $5.5 billion. Consumer spending was unchanged at 3.3%. Business investment in structures rose a stronger 7% instead of 6.2%. Exports were revised to show a smaller 3.5% gain. Imports advanced 1.5%. Adjusted pretax corporate profits climbed 0.7% to an annualized $2.12 trillion, rebounding from first quarter drop.
Initial claims for unemployment benefits, rose by 12,000 to 272,000 the week ended Sept. 23. Economistsexpected 270,000. Continuing claims fell by 45,000 to 1.93 million the week before.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
