The KUIK Morning Market Report for Monday, May 22:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
104
points
20,910
7:11 AM
S&P500
Up
0.4%
percent
2,391
9.34
Nasdaq Composite
Up
0.5%
percent
6,116
32.33
30 Year Treasury
Up
1
Basis Points
2.91
Annual Yield
The Chicago Fed’s national activity index jumped to a positive 0.49 in April from a positive 0.07 in March. That’s the highest reading since March 2014. The index is a weighted average of 85 economic indicators, where zero represents trend growth and a three-month average below negative 0.70 means a recession has probably stared. Personal consumption and housing were the only downers in the report.
President Trump’s budget proposal this week will include provisions to end many foreign military grants administered by the State Department and replace them with loans, a move that could affect up to $1 billion in aid to other countries if Congress approves. An internal State Department memo reviewed by The Wall Street Journal names Pakistan, Tunisia, Lebanon, Ukraine, Colombia, Philippines and Vietnam among the countries affected. The State Department’s Office of Security Assistance dispenses $6 billion in military aid grants including $3.1 billion for Israel, $350 million for Jordan, and $1.3 billion for Egypt. Those grants will be preserved in the 2018 budget. Pakistan usually receives about $265 million in grants, and that would go down to about $100 million under the new budget.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
