Market Update Report 3/16/2018

The KUIK Market Update for Friday, March 16:

Markets are up

Index

Direction

Change

Units

Index

Time

Change

Dow Jones Industrial Average

Up

                    87

 points

          24,560

7:50 AM

S&P500

Up

0.4%

percent

            2,758

Nasdaq Composite

Up

0.3%

percent

            7,503

     (1.50)

30 Year Treasury

Up

                      2

Basis Points

              3.08

Annual Yield

The Federal Reserve reports industrial production rose 1.1% in February, for strongest gain since last October. Wall Street expected only a 0.5% increase. Manufacturing output jumped 1.2% in February, also having the biggest gain since October. Mining output rose 4.3%, helped by strong oil and gas extraction and coal mining. Oil and gas extraction is about 12% higher than a year ago and hit a record. Utility output fell  4.7% on warmer-than-normal temperatures while auto production rose 3.9% after a January’s 0.2% drop. Output of construction equipment rose 2.3%. Capacity utilization jumped to 78.1% in February from 77.4%, highest level since January 2015.

The University of Michigan’s consumer sentiment index hit the highest level since 2004 in March, helped by a record favorable assessment of current economic conditions. The index rose to 102 in March from 99.7 in February, topping the 99.5 expected by economists. All of the gain iwas among households with incomes in the bottom third.

Serving the West Side first, I am Bill Roller of brcapitalinc.com for 1360 KUIK.

www.marketwatch.com/story/industrial-production-jumps-11-in-february-biggest-gain-in-four-months-2018-03-16#false

www.marketwatch.com/story/consumer-sentiment-hits-14-year-high-as-low-income-households-report-better-conditions-2018-03-16

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