The KUIK Morning Market Report for Wednesday, April 12:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(36)
points
20,618
7:01 AM
S&P500
Down
-0.2%
percent
2,350
(3.60)
Nasdaq Composite
Down
0.0%
percent
5,865
(2.26)
30 Year Treasury
Up
1
Basis Points
2.94
Annual Yield
Republican New Jersey Governor Chris Christie says the Department of Transportation should suspend overbooking by airlines until it completes a thorough review. In a letter to Transportation Secretary Elaine Chao, he pointed out that United Airlines operates 70% of the flights from Newark airport and said the overbooking practice has become “unconscionable.” He said passengers shouldn’t be bumped except in the most extreme circumstances and not to accommodate airline employees.
The Trump Administration will lift the federal hiring freeze today that has been in place for the past three months but will continue its push to restructure and downsize the federal government. It’s a a central piece of President Trump’s pledge to “drain the swamp.” Agencies will be able to hire, but they will be required to submit plans for making themselves leaner.
The Department of Labor reports the import price index dropped 0.2% in March, for the first decline since November. The cost of fuel fell 3.8%, the biggest drop in more than a year. Over the past year, import prices have risen 4.2%. but they were falling at a 6.1% annual rate a year ago.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
