The KUIK Closing Market Report for Friday, February 26:
Markets ended mixed.
Index Direction Change Units Index Time Change
Dow Down (57) points 16,640 1:12 PM
S&P500 Down -0.2% percent 1,948 (3.65)
Nasdaq Composite Up 0.2% percent 4,590 8.27
30 Year Treasury Up 7 Basis Points 2.64 Annual Yield
Tightening financial conditions in the U.S. over the past year and a half are the equivalent of three quarter-percentage-point interest-rate hikes, according to Federal Reserve Governor Lael Brainard. Since the middle of 2014, the relative value of the dollar has risen by 20%. In a speech today at the University of Chicago, Brainard said financial tightening is one factor to lower expectations that the U.S. economy would be able to “diverge” or grow strongly compared with the rest of the world.
Serving the West Side first I am Bill Roller of BR Capital for 1360 KUIK.
http://www.marketwatch.com/story/market-forces-hitting-us-equivalent-to-three-rate-hikes-feds-brainard-says-2016-02-26
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