The KUIK Morning Market Report for Wednesday, May 10:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(51)
points
20,925
7:17 AM
S&P500
Down
-0.1%
percent
2,396
(1.41)
Nasdaq Composite
Down
0.0%
percent
6,118
(2.32)
30 Year Treasury
Down
(3)
Basis Points
3.01
Annual Yield
Wholesale inventories rose 0.2% in March, according to Commerce Department data (released Tuesday). This was above the preliminary reading of a 0.1% decline. The inventory-to-sales ratio remained steady at 1.28 in March, down from 1.35 in the same period a year earlier.
There were 5.74 million job openings, the Labor Department said Tuesday, the same number as previously reported in February Economists had forecast 5.73 million openings.
Boston Fed President Eric Rosengren said Tuesday that Government Sponsored Enterprise (GSE) reform could lead to a potential shock for the commercial real-estate market. Fannie and Freddie earn a significant share of income from the multifamily segment of their business, and currently hold or guarantee 44% of multifamily loans, Rosengren said. That’s more than commercial banks.
Serving the West Side first, I am Mike Elerath of BR Capital for 1360 KUIK.
