The KUIK Closing Market Report for Thursday, March 9:
Markets were flat.
Index
Direction
Change
Units
Index
Time
Change
Dow
Up
2
points
20,858
1:52 PM
S&P500
Up
0.1%
percent
2,365
1.89
Nasdaq Composite
Up
0.0%
percent
5,839
1.25
30 Year Treasury
Up
3
basis points
3.18
Annual Yield
The Federa Reserve reports corporate debt grew at a seasonally adjusted annual rate of 0.8% in the fourth quarter. That was the slowest rate in six years. Corporations kept about $2 trillion in cash on hand. Short-term debt represented 27.4% of corporate borrowings, similar to the third quarter and demonstrates their sensitivity to higher interest rates. In December the Fed lifted interest rates for only the second time in a decade. But it plans three more hikes this year, with the next increase likely coming at it’s two-day meeting ending March 15.
Serving the West Side first I am Bill Roller of BR Capital for 1360 KUIK.
