The KUIK Morning Market Report for Tuesday, November 21:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
133
points
23,563
7:06 AM
S&P500
Up
0.5%
percent
2,596
1.46
Nasdaq Composite
Up
0.8%
percent
6,847
F
30 Year Treasury
Down
(5)
Basis Points
2.74
Annual Yield
Janet Yellen announced yesterday that she will step down from the Federal Reserve, after not being nominated for a second term as Chairman. Yellen, the first woman to run the bank, could have stayed on at the Fed as a governor until 2024, even as President Trump nominated Jerome Powell to replace her. Sge said she will stay on until her successor is sworn in. The Senate is expected to confirm Powell. Yellen did not say what her post Fed plans are.
The Chicago Fed’s index of national economic activity surged to positive 0.65 in October from an upwardly revised positive 0.36 in September. That’s the highest reading since December 2006. The index is a weighted average of 85 economic indicators, designed so that zero represents trend growth and a three-month average below negative 0.70 suggests a recession has begun.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
