The KUIK Morning Market Report for Wednesday, May 17:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(216)
points
20,764
7:17 AM
S&P500
Down
-1.0%
percent
2,377
(23.49)
Nasdaq Composite
Down
-1.2%
percent
6,096
(73.56)
30 Year Treasury
Down
(6)
Basis Points
2.93
Annual Yield
The stock market is having its worst drop in eight weeks as concerns about President Trump’s FBI controversy weigh on investor sentiment. Weakness came after The New York Times late yesterdy reported that in February President Trump asked then-Federal Bureau of Investigation Director James Comey to stop his investigation into former National Security Adviser Michael Flynn. The report cited a memo from Comey. That has raised questions about the president’s ability to implement pro-market policies that have driven stocks to recent records.
Conservative groups Heritage Action and the Club for Growthwant congressional Republicans to keep fights over raising the debt ceiling and funding the government separate this fall, to increase leverage on their policy agendas. The Hill says Club for Growth would like to attach provisions to a debt ceiling bill including a measure that would require congressional approval for new regulations, and another that would restrict food stamps.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
