The KUIK Morning Market Report for Wednesday, October 18:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
112
points
23,109
6:47 AM
S&P500
Up
0.1%
percent
2,562
3.05
Nasdaq Composite
Up
0.1%
percent
6,627
3.61
30 Year Treasury
Up
4
Basis Points
2.84
Annual Yield
The Commerce Department reports housing starts for September ran at a 1.13 million seasonally adjusted annual rate, down 4.7%. Economists expected a 1.17 million pace but starts are 6.1% higher compared to a year ago. Starts for single family homes were also down, but are 9.1% higher for the year to date compared to 2016. Housing permits, which give indications of future activity, also fell down 4.5% for the month, and 4.3% lower compared to September 2016.
The U.S. Treasury again declined to label China a currency manipulator, though it criticize Beijing for its large trade surplus and restrictions on foreign investors. “Treasury remains concerned by the lack of progress made in reducing the bilateral trade surplus with the United States,” it said of China in its semiannual report on international exchange rates. “China should take concrete steps to level the playing field for American workers and firms.”
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
