The KUIK Market Update for Wednesday, December 14:
Markets are mixed.
Index
Direction
Change
Units
Time
Dow
Down
(35)
points
19,876
7:57 AM
S&P500
Down
-0.2%
percent
2,268
Nasdaq Composite
Down
0.0%
percent
5,463
30 Year Treasury
Down
(6)
Basis Points
3.09
Annual Yield
The Fed finishes its two day policy meeting today with a news conference with Fed Chairman Janet Yellen at 11 am Pacific time. It is expected to raise the Fed Funds rate a quarter point.
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%.
The Fed reports industrial production fell 0.4% in November, for the biggest drop since March. It matched expectations but is down 0.6% from November of 2015. Manufacturing output slipped 0.1% as motor vehicles and parts output fell 2.3%. Utilities fell 4.4% as warmer-than-normal temperatures reduced demand for heating, and mining output jumped 1.1%, the second straight strong gain, as most industries posted gains except coal.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
