The KUIK Morning Market Report for Monday, April 17:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
89
points
20,542
7:11 AM
S&P500
Up
0.4%
percent
2,338
9.25
Nasdaq Composite
Up
0.5%
percent
5,832
27.21
30 Year Treasury
Unchanged
–
Basis Points
2.89
Annual Yield
The New York Fed reports the Empire State manufacturing survey fell to 5.2 in April down from a two-year high of 16.4 in March. Consensus expectations were for a reading near March’s levels. Since it was above zero conditions are improving. New orders and shipments fell but prices paid and number of employees increased.
The dollar is down on tension between the U.S. and North Korea following a massive parade showing off its military capability and unsuccessful missile launch ordered by leader Kim Jong-Un, over the weekend. The ICE U.S. Dollar index which measures the greenback’s strength against a basket of six rival currencies, is off 0.4%. Vice President Michael Pence is visiting South Korea. He warned the North not to test President Trump’s resolve.
June gold is up 0.13%, to $1,290.30 to an ounce. A close around this level would be the highest for a lead-month contract since the first week of November. Last week gold gained almost 2.5%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
