The KUIK Morning Market Report for Friday, December 15:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
106
points
24,613
7:13 AM
S&P500
Up
0.5%
percent
2,665
2.55
Nasdaq Composite
Up
0.4%
percent
6,880
(0.72)
30 Year Treasury
Unchanged
–
Basis Points
2.71
Annual Yield
European Union leaders at their summit in Brussels earlier todayagreed to move to the second phase of talks with the U.K. over its brexit. Leaders of the 27 EU member states determined that enough progress in negotiations has been made in recent months and they are ready to start discussing trade an other issues.
The New York Fed reports its Empire State manufacturing index fell slightly in December to 18 from November’s 19.6. Readings above zero indicate improving conditions, though it’s the second drop in a row. New orders and number of employees fell while shipments and average workweek both rose.
The Federal Reserve reports industrial production in the U.S. rose 0.2% in November for the third straight advance. It was helped by oil and gas companies getting fully back online after Hurricane Nate. Total output would have been flat if energy were excluded. The 2% increase in energy production was offset by a 1.9% drop in utility output. Auto production also fell 0.9% after October’s big increase. Capacity utilization rose to a two-and-a-half year high of 77.1%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
