| The KUIK Market Update for Friday, November 13: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (86) | points | 17,360 | 7:59 AM | ||
| S&P500 | Down | -0.6% | percent | 2,033 | (12.56) | ||
| Nasdaq Composite | Down | -0.8% | percent | 4,966 | (38.67) | ||
| 30 Year Treasury | Down | (3) | Basis Points | 3.06 | Annual Yield | ||
| The Commerce Department reports retail sales rose just 0.1% in October, held down by lower spending at gas stations, auto dealers, and grocery stores. That’s the third month in a row of weak sales. Economists expected a seasonally adjusted 0.4% increase. Auto sales fell a seasonally adjusted 0.5%. Leaving out cars and gas, sales rose 0.3%. Shoppers have used some of their gas savings to go out to eat more. Spending at restaurants climbed 0.5% in October and they are up a solid 5.5% over the past year. | |||||||
| Bank of England chief economist Andy Haldane, speaking at the Trades Union Congress in London, said 80 million U.S. and 15 million U.K. jobs are in danger of being taken over by robots. In October, the U.S. employed almost 143 million people outside the farm sector. Haldane added the jobs that are most at risk from automation tend to have the lowest wage. “In other words, technology could act like a regressive income tax on the unskilled. It could further widen income disparities.” | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-retail-sales-barely-rise-in-october-up-scant-01-2015-11-13 | |||||||
| http://www.marketwatch.com/story/eighty-million-us-jobs-at-risk-from-automation-central-bank-official-says-2015-11-12 | |||||||
| For today’s Market Update Report click to listen-> | |||||||