The KUIK Market Update for Friday, February 19:
Markets are mixed.
Index Direction Change Units Time
Dow Down (62) points 16,351 7:53 AM
S&P500 Down -0.3% percent 1,912
Nasdaq Composite Up 0.1% percent 4,492
30 Year Treasury Down (4) Basis Points 2.59 Annual Yield
The Labor Department reports the consumer price index was unchanged in January. Economists expected a seasonally adjusted 0.1% drop. Over the past 12 months the main CPI has risen by an unadjusted 1.4%, double the rate in December and the fastest pace since December 2014. Core prices are up 2.2%. Energy prices fell 2.8% in January, led by a drop in the price of gasoline. Food prices were unchanged. Excluding food and energy, core consumer prices jumped 0.3% for the biggest gain since August 2011 due to higher medical care and housing expenses.
March crude is off 4.8% to $29.36 a barrel on the New York Merc. Oil prices have been hit by by fresh inventory data from the U.S.Yesterday, the U.S. Energy Information Administration data indicated domestic crude stockpiles rose by 2.1 million barrels last week to 504.1 million barrels, a fresh weekly record high. inventories last exceeded 500 million barrels in 1930.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/consumer-inflation-flat-in-january-2016-02-19
http://www.marketwatch.com/story/record-high-us-crude-stockpiles-weigh-on-oil-prices-2016-02-19?dist=lcountdown
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