The KUIK Morning Market Report for Tuesday, February 21:
Markets are up.
Index
Direction
Change
Units
Time
Dow
Up
99
points
20,722
7:28 AM
S&P500
Up
0.6%
percent
2,364
Nasdaq Composite
Up
0.4%
percent
5,862
30 Year Treasury
Up
1
Basis Points
3.04
Annual Yield
Market Researcfh firm NPD Group reports the total number of restaurants in the US fell 2% year-over-year to 620,807 units in 2016. Restaurant density, the number of units per million population, is at the lowest point in a decade, dropping to 1,924 units per million in 2016 from 1,992 in 2007. Independent restaurant units decreased 4% in 2016, with declines in both the quick- and full-service areas. Chain restaurant units grew 1% to 297,351 and fast-casual units grew 7% to 23,798.
The Wall Street Journal reports that distracted by their smartphones America’s drivers are becoming more dangerous by the day, and that’s pushing insurance rates higher. State Farm, the largest auto insurer by market share said 36% of people it surveyed in 2015 admitted to texting while driving and 29% said they access the internet compared to only 31% and 13% in 2009. Among drivers aged 18 to 29 64% texted and 54% used the internet behing the wheel.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
