The KUIK Morning Market Report for Monday, November 14:
Markets are mixed.
Index
Direction
Change
Units
Time
Dow
Up
41
points
18,889
7:02 AM
S&P500
Up
0.1%
percent
2,166
Nasdaq Composite
Down
-0.2%
percent
5,225
30 Year Treasury
Up
8
Basis Points
3.01
Annual Yield
Marketwatch reports The Obama administration’s Pacific trade deal is dead as a Republican-controlled Congress returns to Washington next week for a “lame duck” session after an election that maintained GOP majorities and both houses of Congress and put a Republican Donald Trump in the White House. Action on Barack Obama’s Supreme Court nominee, Merrick Garland, is off the table. The Wall Street Journal reported Obama administration officials said last Friday that the Trans Pacific Partnership has no way forward. The failure to pass the 12-nation TPP—by far the biggest trade agreement in more than a decade—is a bitter defeat for the outgoing Obama.
Federal government operations are funded through Dec. 9, and the government would partially shut down if Congress doesn’t act. Another item that may come up in the lame duck is more than 30 tax provisions that are due to expire at the end of the year, including several incentives for renewable energy.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
