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The KUIK Morning Market Report for Wednesday, February 14: |
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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 |
Up |
8 |
points |
24,648 |
7:19 AM |
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S&P500 |
Up |
0.1% |
percent |
2,666 |
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Nasdaq Composite |
Up |
0.4% |
percent |
7,042 |
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30 Year Treasury |
Up |
3 |
Basis Points |
3.16 |
Annual Yield |
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Investors are cautious after the Labor Department reported the consumer price index for January had the biggest gain in five months. The cost of rent, clothes, gasoline, and health care all rose, contributing to the 0.5% jump in the CPI. Core inflation, which strips out volatile food and energy prices, rose by 0.3%. That may force the Federal Reserve to be more aggressive in tightening interest rates. However the year-over-year increase was unchanged from December at 2.1% and 12-month rate of core inflation was also flat at 1.8%. |
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Sales at U.S. retailers fell by 0.3% in January which was the biggest drop in almost a year mainly due to declines at auto dealers and home centers. Economists expected a 0.2% increase. The previously reported increase in sales for December was revised to unchanged. Gasoline stations posted a 1.6% increase in sales for January as prices at the pump rose. Apparel and department stores also posted higher sales and sales were flat at internet retailers. |
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Sign up for a Social Security and Retirement Analysis at brcapitalinc.com/kuik. Serving the West Side first, I am Bill Roller for 1360 KUIK. |
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For today’s Morning Market Report click to listen-> |
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