The KUIK Morning Market Report for Wednesday, February 15:
Markets are up.
Index
Direction
Change
Units
Time
Dow
Up
33
points
20,537
6:57 AM
S&P500
Up
0.0%
percent
2,338
Nasdaq Composite
Up
0.1%
percent
5,789
30 Year Treasury
Up
3
Basis Points
3.09
Annual Yield
The Empire State index of manufacturing conditions in the New York area rose to 18.7 in February up from 6.5 in January. Economists expected only 7.5. It is the highest level since September 2014. Readings above zero indicate improving conditions. New orders and shipments rose and unfilled orders were above zero for the first time in more than five years.
The Federal Reserve reports industrial production fell 0.3% in January, for the largest drop since September. That was better than the 0.4% drop expectpect by economists. December was revised down to only a 0.6% gain from a previously reported 0.8% gain. January’s weakness iwas led by a drop in utility output. Manufacturing output rose 0.2%.
The Commerce Department reports retail sales rose 0.4% in January. Economists expected 0.2%. Every major retail sector was higher except for auto dealers. Retail sales are up 0.7% with autos and gasoline excluded .
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
