The KUIK Morning Market Report for Thursday, January 11:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
82
points
25,452
7:05 AM
S&P500
Up
0.3%
percent
2,757
(0.02)
Nasdaq Composite
Up
0.3%
percent
7,173
(8.63)
30 Year Treasury
Up
1
Basis Points
2.90
Annual Yield
The Labor Department reports new claims for unemployment benefits rose by 11,000 to 261,000 the week ended Jan. 6. That’s the highest level since the middle of September and above the 248,000 expected by economists. Continuing claims fell by 35,000 to 1.87 million. The U.S. labor market enters 2018 in the best shape in almost 20 years. The economy added 2 million jobs last year . Unemployment is just 4.1%. The chief of the U.S. Chamber of Commerce says businesses simply can’t find enough skilled workers.
Wholesale inflation is moving up. The producer price index climbed 2.6% in 2017. That was the fastest increase in six years despite December’s slight 0.1% drop. The core PPI which strips out food, energy and trade margins rose by 0.1%. An upward move in prices could push the Federal Reserve to raise interest rates more aggressively, especially if accompanied by higher wages.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
