The KUIK Morning Market Report for Tuesday, December 22:
Markets are up.
Index Direction Change Units Time
Dow Up 28 points 17,280 7:03 AM
S&P500 Up 0.1% percent 2,024
Nasdaq Composite Up 0.1% percent 4,973
30 Year Treasury Up 1 Basis Points 2.94 Annual Yield
The Commerce Department reports that gross domestic product increased at a 2% annual pace in the third quarter, down from the previously reported 2.1% annual rate and 3.9% in the second quarter. The slight downgrade was triggered by a larger trade deficit and a smaller buildup in inventories than earlier estimated. The U.S. expanded at a 2.2% rate through the first nine months of the year, and economists expect that same pace in the fourth quarter. The economy will have failed to reach 3% growth for the 10th straight year, marking the slowest stretch since the end of World War Two. Historically the economy has expanded at 3.3% annually.
Chipotle Mexican Grill shares closed at a 19-month low yesterday after the restaurant chain was linked to another E. coli outbreak, this time affecting five people in Oklahoma, Kansas and North Dakota, according to the Centers for Disease Control and Prevention.The latest reported cases are being treated as a second outbreak while the CDC investigates whether it is linked to the previous illnesses here in Oregon and Washington reported at the end of October.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/third-quarter-gdp-growth-trimmed-to-2-2015-12-22
http://www.marketwatch.com/story/chipotle-tied-to-another-e-coli-outbreak-across-three-states-says-cdc-2015-12-21
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