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The KUIK Morning Market Report for Monday, January 29: |
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Markets are up. |
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Index |
Direction |
Change |
Units |
Index |
Time |
Change |
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Dow Jones Industrial Average |
Down |
(64) |
points |
26,553 |
7:11 AM |
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S&P500 |
Down |
-0.3% |
percent |
2,865 |
0.84 |
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Nasdaq Composite |
Down |
-0.3% |
percent |
7,481 |
(0.46) |
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30 Year Treasury |
Up |
3 |
Basis Points |
2.94 |
Annual Yield |
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The National Association for Business Economics said the percentage of companies which have increased wages and salaries over the last three months rose to 48 in January, up from 37 in October and the third-highest reading since April 1982. Not a single respondent said their wages have dropped. But wage growth has been the missing ingredient to the recovery from the 2008 recession. But despite optimism in surveys official data points to lackluster wage growth. Average hourly earnings on a 12-month basis has not been larger than 3% since the recession. |
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The Federal Reserve’s Open Market Committee will have its two-day meeting ending on Wednesday and issue a statement at 11 a.m. Pacfic time. There is no press conference and the Fed won’t update its economic forecast. So the statement is all the market will have to decipher the direction of interest rates. Minutes of the meeting will be released February 21, but Fed Funds futures predict the Fed will raise rates at it meeting on March 20. |
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For a free Social Security and Retirement Analysis go to brcapitalinc.com/kuik. Serving the West Side first, I am Bill Roller for 1360 KUIK. |
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www.marketwatch.com/story/fed-to-take-a-step-toward-a-march-interest-rate-hike-2018-01-26 |
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For today’s Morning Market Report click to listen-> |
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