The KUIK Morning Market Report for Wednesday, November 15:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(141)
points
23,268
7:11 AM
S&P500
Down
-0.6%
percent
2,563
F
Nasdaq Composite
Down
-0.7%
percent
6,692
F
30 Year Treasury
Down
(5)
Basis Points
2.77
Annual Yield
The Empire State index for November fell 10.8 points to 19.4, moving back from a three-year high in October but still pointing to a solid manufacturing environment in the New York area. Any reading above zero indicates improving conditions. New-orders rose while shipments fell.
The consumer price index rose 0.1% in October, held down by falling energy prices, according to the Labor Department, in line with forecasts. If food and energy are stripped out, core CPI rose a slightly larger 0.2%. The drop in energy prices pushed the annual rate of inflation down to 2% from September’s 2.2%. The core rate rose at a 1.8% annual rate, up from 1.7% in September and the fastest pace since April. Adjusted for inflation, hourly wages fell 0.1%. Over the past year “real” wages have risen just 0.4%. The index for shelter increased 0.3% and was a main factor in the increase in inflation. The energy index fell 1% in September led by lower gasoline prices. The core rate was boosted by several categories, including medical care, used cars and trucks, and tobacco.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
