The KUIK Morning Market Report for Monday, December 5:
Markets are up.
Index
Direction
Change
Units
Time
Dow
Up
29
points
19,248
3:08 PM
S&P500
Up
0.6%
percent
2,204
Nasdaq Composite
Up
0.6%
percent
5,288
30 Year Treasury
Up
4
Basis Points
3.10
Annual Yield
Today the Dow was poised to head to an all-time high with momentum from equity investors who shook off the loss of Italy’s reform referendum on Sunday and amid signs of steady U.S. economic growth. Asian stocks were unable to shake off losses, with banks leading the way down, fearing that the Italy “no” vote could hurt the country’s banking system and spread globally.
The Nikkei 225 index was off nearly 1% and the Shanghai Composite Index fell 1.2%.
In tech news, Apple wrote a letter to U.S. regulators offering feedback on proposed guidelines for self-driving cars and other machine-learning technology. It’s the biggest hint thus far that the tech giant is working on autonomous vehicles.
On Today’s oil update is that February Brent crude rose 1%, to $55 a barrel, also on track for the highest close since July 2015.
Serving the West Side first, I am Mike Elerath of BR Capital for 1360 KUIK.
