Closing Market Report 12/14/2016

December 15, 2016
The KUIK Closing Market Report for Wednesday, December 14:
 
Markets were down.
 
Index Direction Change Units Index Time Change  
Dow Down                   (119) points         19,793 6:45 AM    
S&P500 Down -0.8% percent           2,253          3.85  
Nasdaq Composite Down -0.5% percent           5,437        10.00  
30 Year Treasury Up                       6 Basis Points            3.15 Annual Yield    
 
The Federal Open Market Committee concluded its two-day policy meting. The Fed increased its target range for the fed funds rate a quarter point to beween 0.5% and 0.75%.  It’s the first and last increase for 2016. The Fed anticipates three increases in 2017 but the market currently does not expect another rate hike until June.
 
Serving the West Side first I am Bill Roller of BR Capital for 1360 KUIK.
 
http://www.marketwatch.com/story/fed-to-hike-interest-rates-next-week-while-ignoring-the-elephant-in-the-room-2016-12-09
 
For today’s Closing Market Report click to listen->