The KUIK Market Update for Wednesday, February 15:
Markets are up.
Index
Direction
Change
Units
Time
Dow
Up
67
points
20,572
8:02 AM
S&P500
Up
0.2%
percent
2,342
Nasdaq Composite
Up
0.2%
percent
5,793
30 Year Treasury
Up
4
Basis Points
3.10
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 Commerce Department reports the the cost of living as measured by the consumer price index rose a seasonally adjusted 0.6% in January. Economists expected only a 0.3% rise. An increase in the cost of gasoline accounted for almost half of January’s increase in consumer inflation. The cost of filling up at the gas station has climbed to a nationwide average of $2.30 a gallon from just under $2 last spring, Over the past year the consumer price index has climbed 2.5%, the largest annual increase in five years.
The sentiment index from the National Association of Home Builders fell 2 points to 65 in February. That puts it above its average of 61 throughout 2016, but marks what NAHB called “a more normal range.” Economists expected 68 where readings over 50 signal improving conditions.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
