Morning Market Report 3/16/2018

The KUIK Morning Market Report for Friday, March 16:

Markets are up

Index

Direction

Change

Units

Index

Time

Change

Dow Jones Industrial Average

Up

                      65

 points

          24,939

7:11 AM

S&P500

Up

0.3%

percent

           2,756

Nasdaq Composite

Up

0.3%

percent

           7,500

           (1.50)

30 Year Treasury

Up

                        2

Basis Points

             3.08

Annual Yield

The Commerce Department reports construction on new houses fell 7% in February, but starts are still near to a post-recession high and builders show no signs of slowing. Starts fell to 1.24 million annually last month from a revised 1.33 million in January. January had the fastest pace since 2008. Economists expected only 1.29 million starts. Permits fell 5.7% to 1.3 million but are still higher compared to a year ago. Starts fell the South, Midwest,  and here in the West, but they rose in the Northeast. The drop was concentrated in apartment buildings and condos. Construction of single-family homes rose and hese homes account for 70% of all new residential construction.

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.

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

www.marketwatch.com/story/housing-starts-drop-7-in-february-but-lull-likely-temporary-2018-03-16#false

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

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