The KUIK Morning Market Report for Tuesday, January 19:
Markets are up.
Index Direction Change Units Time
Dow Up 133 points 16,121 7:08 AM
S&P500 Up 0.8% percent 1,895
Nasdaq Composite Up 0.9% percent 4,527
30 Year Treasury Down (8) Basis Points 2.81 Annual Yield
The International Monetary Fund cut its outlook for the world economy, warning that economic turmoil in China and financial contagion throughout emerging markets threaten to hold down global growth. Downturns in the largest developing countries and a weaker-than-expected expansion in the U.S. prompted the IMF to downgrade its forecast for global growth this year by 0.2% to 3.4%. That is slightly better than last year’s 3.1%. The strong dollar is weighing on U.S. exports. The IMF said the American economy should grow by 2.6% this year, up from last year’s 2.5%, but down 0.2% from its prior forecast.
The National Association of Home Builders reports its index of home builder sentiment remained steady at 60 in January, and unchanged from the downwardly-revised December. Economists expected 62. It hit a 10-year high of 65 in October
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/imf-trims-its-global-growth-outlook-yet-again-2016-01-19
http://www.marketwatch.com/story/home-builder-confidence-stays-steady-in-january-2016-01-19
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