The KUIK Morning Market Report for Monday, March 27:
Markets are down but up from their lows..
Index
Direction
Change
Units
Time
Dow
Down
(131)
points
20,464
7:01 AM
S&P500
Down
-0.6%
percent
2,329
Nasdaq Composite
Down
-0.7%
percent
5,787
30 Year Treasury
Down
(4)
Basis Points
2.96
Annual Yield
Markets worldwide are starting off the week spooked by Republican-controlled Washington’s failure to repeal and replace Obamacare. That has dented confidence in President Donald Trump’s ability to muster enough political support to deliver on his promises of reform, seen as helping drive the recent stock market rally.
Jared Kushner, President Trump’s the son-in-law, will lead the White House Office of American Innovation that will use ideas from business world to revamp America’s bureaucracy, according to the Washington Post. It will operate as “a SWAT team of strategic consultants” to infuse government with new ways of thinking. The office will also focus on which government functions could be privatized and will work with business leaders such as Apple CEO Tim Cook, Microsoft founder Bill Gates and Tesla CEO Elon Musk, even though they may not agree on all Trump administration policies. The top priorities are improving Veterans Affairs, modernizing government technology, combating opiod abuse.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
