The KUIK Morning Market Report for Wednesday, December 14:
Markets are mixed.
Index
Direction
Change
Units
Time
Dow
Down
(36)
points
19,877
7:14 AM
S&P500
Down
-0.2%
percent
2,268
Nasdaq Composite
Down
0.0%
percent
5,464
30 Year Treasury
Down
(5)
Basis Points
3.10
Annual Yield
The Labor Department reports its producer price index for final demand increased 0.4% in November, for the largest gain since June, after being unchanged in October. In the 12 months through October, the PPI rose 1.3%, for the biggest annual gain since November 2014. Economists expected the PPI to gain 0.1%t last month and only 0.9% from a year ago.
The Commerce Department reports retail sales rose a seasonally adjusted 0.1% in November. Economists expected 0.3%. Most retailers reported improved result. Sales of home furnishings, groceries and gasoline led the way while restaurant sales were up 0.8% for the biggest gain since February. Auto sales were a drag, falling 0.5%. They account for about 20% of all retail spending. If they’re excluded, retail sales rose a stronger 0.2%. Department stores have been losing ground for years to online retailers. Sales slipped 0.2% in November and are down 6.4% in the past year. Internet retailers only saw a 0.1% gain in sales last month, but are up nearly 12% in the past year.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
