The KUIK Morning Market Report for Thursday, February 25:
Markets are down.
Index Direction Change Units Time
Dow Down (10) points 16,475 6:00 PM
S&P500 Down -0.1% percent 1,928
Nasdaq Composite Down -0.5% percent 4,521
30 Year Treasury Down (2) Basis Points 2.58 Annual Yield
The Commerce Department reports orders for durable goods jumped 4.9% in January for the biggest gain in 10 months, that follows a revised 4.6% drop in December. Economists expected a seasonally adjusted 3.5% gain. The increase was largely due to autos and aircraft. Orders for airplanes shot up 11.5% and orders for new cars and trucks climbed 3%, excluding transportation, orders rose a smaller 1.8%. Orders for core capital goods which represent business investment, were up 3.9% offsetting a 3.7% decline in December but are down almost 3% compared with a year ago.
Crude inventory rose by 3.5 million barrels last week to a new weekly high of 507.6 million barrels, according to the U.S. Energy Information Administration. Gasoline stocks showed a surprise decline of 2.2 million barrels. April crude is off 1.4% to $31.69 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/durable-goods-orders-surge-49-in-january-2016-02-25
http://www.marketwatch.com/story/crude-oil-steady-as-investors-weigh-latest-inventory-build-2016-02-25
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