The KUIK Morning Market Report for Wednesday, November 16:
Markets are down.
Index
Direction
Change
Units
Time
Dow
Down
(60)
points
18,854
7:04 AM
S&P500
Down
-0.3%
percent
2,175
Nasdaq Composite
Down
-0.1%
percent
5,271
30 Year Treasury
Down
(3)
Basis Points
2.94
Annual Yield
The Commerce Department reports inflation in the U.S. at the wholesale level remains low, but it’s no longer falling. The producer price index was unchanged in October. Economists expected a a 0.3% rise. Wholesale prices have risen 0.8% from October 2015 to October 2016. That’s the strongest one-year gain since the end of 2014. Core producer prices which exclude food, energy, and trade margins have climbed 1.6% in the past 12 months, the fastest pace in two years.
The Federal Reserve reports industrial production was unchanged. Economists expected a 0.2% gain. Utilities output fell by 2.6% as warmer-than-normal temperatures reduced the demand for heating. Manufacturing output edged up 0.2%, while mining output was 2.1% higher, its best performance since March 2014. Coal-mining gains offset declines in the extraction of crude oil and natural gas. Capacity utilization fel 0.1% to 75.3%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
