The KUIK Morning Market Report for Thursday, June 8:
Markets are down slightly.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(10)
points
21,164
7:40 AM
S&P500
Down
-0.1%
percent
2,431
(1.84)
Nasdaq Composite
Up
0.0%
percent
6,298
1.11
30 Year Treasury
Up
2
Basis Points
2.86
Annual Yield
The Labor Department reports Initial claims for unemployment benefits fell by 10,000 to 245,000 in the week ended June 3. New claims have been under 300,000 for 118 straight weeks. Continuing claims fell by 2,000 to 1.92 million and they’ve been under 2 million for eight straight weeks.
The House is poised to pass sweeping legislation today that would rewrite the rules governing Wall Street, an opening Republican bid to encourage economic growth by loosening regulation of the financial sector. The Financial Choice Act, is unlikely to become law as it isn’t expected to earn enough support in the Senate. Aspects of the legislation could be implemented by the Trump administration, but officials there have laid out a more modest agenda. The administration is expected to release a report next week outlining its financial regulatory goals.
Economic growth in Europe in the first quarter of 2017 reached its highest rate in more than a year, according to a final reading released by Eurostat on Thursday. Gross domestic product expanded by 1.9% on a year-over-year basis, the fastest growth since the fourth quarter of 2015. Analysts polled by FactSet \expected 1.7%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
