Market Update Report 3/20/2018

The KUIK Market Update for Tuesday, March 20:

Markets are up after yesterday’s big sell off.

Index

Direction

Change

Units

Index

Time

Change

Dow Jones Industrial Average

Up

                   137

 points

          24,752

7:50 AM

S&P500

Up

0.2%

percent

            2,718

Nasdaq Composite

Up

0.3%

percent

            7,363

     (1.50)

30 Year Treasury

Up

                      3

Basis Points

              3.11

Annual Yield

The Wall Street Journal reports there’s renewed interest in indexing capital gains for inflation due to Larry Kudlow, the incoming director of the National Economic Council, He told the Journal he hoped the concept would be included in a bill to extend expiring tax cuts. That would be a big shift in policy, reducing taxes dramatically on long-term held investments.

The Fed is expected to raise interest rates by a quarter point on Wednesday, as the Federal Open Market Committee wraps up its two day meeting. Investors expect the Fed’s economic projections, the dot plot, will show policy makers leaning toward a more aggressive four rate increases this year instead of the three expected in January.

Facebook had its biggest one-day percentage drop since 2014 on Monday and lost nearly $40 billion in market cap, over third-party access to users’ personal data. Those losses weighed on other social-media stocks and on the technology sector, which has been the best-performing group this year. Facebook shares are off 2.63%to $168.55.

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

www.marketwatch.com/story/kudlows-rise-breathes-life-into-indexing-capital-gains-to-inflation-trump-has-discussed-firing-lawyer-ty-cobb-2018-03-20

www.marketwatch.com/story/techs-on-track-to-drag-down-us-stocks-for-a-second-day-as-facebook-keeps-sliding-2018-03-20

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