The KUIK Market Update for Friday, January 22:
Markets are up.
Index Direction Change Units Time
Dow Up 141 points 16,023 8:25 AM
S&P500 Up 1.5% percent 1,897
Nasdaq Composite Up 2.0% percent 4,559
30 Year Treasury Up 4 Basis Points 2.84 Annual Yield
Manufacturing rebounded in January after hitting a 38-month low in December. Markit’s preliminary manufacturing purchasing managers’ index rose to 52.7 from up 51.2 in December. Output and orders picked up in January after slowing late last year. But job creation fell to a four-month low and manufacturers cut inventories.
The Conference Board reports the index of leading economic indicators fell 0.2% to 123.7 in December after 0.5% gains in October and November. The decline was led by a drop in housing permits and weak new orders for manufacturers. Current economic conditions edged up 0.1%. The leading index is a weighted gauge of 10 indicators designed to signal peaks and valleys in the business-cycle.
Oil futures rallied above $30 a barrel this morning, and may log their first weekly gain in a month. March crude is up 6.2% to $31.43 a barrel on the New York Merc.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/flash-us-manufacturing-pmi-rebounds-in-january-2016-01-22
http://www.marketwatch.com/story/leading-economic-index-falls-in-december-2016-01-22?link=MW_home_latest_news
http://www.marketwatch.com/story/oil-prices-rip-higher-after-ecb-stimulus-promise-echoes-2016-01-22
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