The KUIK Morning Market Report for Friday, September 29:
Markets are mixed.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(24)
points
22,357
7:07 AM
S&P500
Up
0.0%
percent
2,511
1.05
Nasdaq Composite
Up
0.2%
percent
6,467
13.88
30 Year Treasury
Unchanged
–
Basis Points
2.87
Annual Yield
Marketwatch reports the Chairman of the Securities and Exchange Commission decided to freeze his staffâs recommendation of the sale of the Chicago Stock Exchange to a Chinese-led investor group after talking with the White House. Chairman Jay Clayton has been under pressure from lawmakers from both parties to block the deal. He put a hold on his staffâs plan to approve the $20 million sale on Aug. 9. The halt was a rare case of commissioners blocking staffâs recommendation. Clayton is a Trump appointee who took over the independent agency in May.
The Department of Commerce reports consumer spending rose just 0.1% in August after a 0.3% gain in July. That matched the expectations. But adjusted for inflation, spending fell for the first time since January. Personal income climbed 0.2%, above the 0.1% forecast. The savings rate was flat at 3.6%. The personal consumption expenditures index rose 0.1%, and the âcoreâ rate that strips out food and energy edged up 0.1%. Neither index is up on an annual basis.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
