The KUIK Morning Market Report for Friday, February 12:
Markets are up.
Index Direction Change Units Time
Dow Up 118 points 15,778 6:59 AM
S&P500 Up 0.6% percent 1,840
Nasdaq Composite Up 0.3% percent 4,278
30 Year Treasury Up 5 Basis Points 2.55 Annual Yield
The Commerce Department reports retail sales rose 0.2% in January. Sales in December were revised higher to show a 0.2% gain instead of a 0.1% decline. Sales at gas stations fell 3.1%. The cost of gas fell below $2 a gallon in some parts of the country, hitting levels last seen seven years ago. Leaving out gas retail sales rose a more robust 0.4%. Auto dealers and Internet retailers were the biggest beneficiaries. But Americans went out to eat less. Sales at restaurants dropped 0.5% to mark the biggest decline in two years.
The Commerce Department also reported the prices paid for imported goods fell 1.1% in January, mainly because of cheaper oil prices. The decline in import prices was the largest since last August and the cost of imports has tumbled 6.2% in the past year. Import prices minus fuel slid 0.2% in January to mark the eighth straight drop, and over the past year, import prices excluding fuel have dropped 2.9%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/retail-sales-increase-02-in-january-2016-02-12
http://www.marketwatch.com/story/import-prices-drop-11-in-january-on-cheaper-oil-2016-02-12
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