The KUIK Morning Market Report for Wednesday, April 19:
Markets are mixed.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(7)
points
20,516
7:19 AM
S&P500
Up
0.4%
percent
2,350
8.11
Nasdaq Composite
Up
0.6%
percent
5,883
33.06
30 Year Treasury
Up
4
Basis Points
2.88
Annual Yield
Investors in Asia cut their appetites for risk as geopolitical concerns weigh on markets. British Prime Minister Theresa May’s announcement of a general election in June, which is aimed at shoring up her mandate to take Britain out of the EU, added to worries about North Korea, Syria, and Russia. In China, the Shanghai Composite fell 0.9% to a two-month low. Since Friday it has fallen more than 3%. Australia’s S&Pfell 0.6%, while Japan’s Nikkei rose 0.1% after choppy trade, despite a softer yen. Korea’s Kospi fell 0.5%.
U.S. stocks are higher as investors assess mixed first-quarter earnings releases. Morgan Stanley is up 2.7% on earnings that topped expectations, but shares of IBM is down 5.2% after an earnings miss.
June gold is off 1.1% to $1280 an ounce on the Comex. The Federal Reserve will release its beige book synopsis of economic conditions around the country on Wednesday at 11am Pacific time, ahead of its May 3 policy meeting.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
