The KUIK Morning Market Report for Thursday, November 9:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(117)
points
23,446
7:04 AM
S&P500
Down
-0.5%
percent
2,581
Nasdaq Composite
Down
-0.8%
percent
6,732
F
30 Year Treasury
Up
2
Basis Points
2.80
Annual Yield
The economy of the European Union is on track to grow at its fastest rate in a decade this year, boosted by robust job creation, rising investment, and decreasing debt, according to the European Commission. In its autumn forecast, it said it expects gross domestic product to expand by 2.2% in 2017, up from the 1.7% it forecast last spring. For 2018, the forcast was lifted to 2.1% from 1.8% but growth is expected to slow to 1.9% in 2019. The euro rose slightly against the dollar on the report.
Here in the US gradual increase to interest rates is the best way to deal with inflation and keep economic growth afloat, Loretta Mester, president of the Federal Reserve Bank of Cleveland told CNBC. The Fed has signaled its readiness to raise interest rates again next month. It also started rolling off its $4.5 trillion balance sheet built up under its quantitative easing program, in a further effort to normalize monetary policy. Mester said it’s too soon to try to factor in any impact from proposed tax policy changes to the interest-rate outlook without knowing exactly what that policy will look like, although she said she has included some fiscal stimulus in her forecasts.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
