The KUIK Morning Market Report for Tuesday, December 20:
Markets are up.
Index
Direction
Change
Units
Time
Dow
Up
84
points
19,967
7:11 AM
S&P500
Up
0.4%
percent
2,271
Nasdaq Composite
Up
0.5%
percent
5,484
30 Year Treasury
Up
4
Basis Points
3.16
Annual Yield
The Dow Jones Industrial Average has hit a fresh record, while the Stoxx Europe 600 Index rose 0.3% for its highest close of the year on deal activity. Treasuries and gold reversed gains from Monday following a terror attack in Berlin and the killing of Russia’s envoy to Turkey. Spot gold is off 0.8% to $1134 an ounce. The yen approached its weakest level since February against the dollar after the Bank of Japan ended a tumultuous year for monetary policy by keeping its yield-curve and asset-purchase programs unchanged.
The Wall Street Journal reports that Apple is discussing with the Indian government the possibility of manufacturing its products there. Apple wants to grow its sales and presence in India. In a letter to the government last month, the company outlined its plans and sought financial incentives to move ahead. Making goods such as iPhones locally would allow Apple to open its own stores in India, helping build its brand in a country where it has less than 5% of a booming smartphone market. India’s market is expected to overtake that of the U.S. as the world’s second-largest behind China in 2017, according to IDC. For years, sales in China fueled Apple’s expansion, but now growth there is slowing.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
