The KUIK Morning Market Report for Tuesday, November 15:
Markets are mixed.
Index
Direction
Change
Units
Time
Dow
Down
(41)
points
18,828
7:09 AM
S&P500
Up
0.3%
percent
2,170
Nasdaq Composite
Up
0.9%
percent
5,266
30 Year Treasury
Down
(4)
Basis Points
2.94
Annual Yield
The Commerce Department reports retail sales jumped 0.8% in October after a revised 1% gain in September. Economists expected an adjusted 0.7% gain. It was a strong month for auto dealers. Sales were up 1.1%, and hit an 11-month high. Gas stations posted a 2.2% increase, reflecting a rise in prices at the pump. Excluding autos and gas, sales rose 0.6%.
The Commerce Department also reported the cost of imported goods rose in October, a steady upward trend that could add to higher U.S. inflation in coming months. Import prices rose 0.5% on the higher cost of oil. If fuel is excluded, prices fell slightly for the second straight month. They are 0.2% lower over the past 12 months. The price of goods exported by the U.S. rose 0.2% in October. Over the past year export prices are 0.2% higher. American companies are getting more for their products, but a strong dollar has made it hard for them to boost sales.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
