The KUIK Morning Market Report for Monday, June 12:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(81)
points
21,191
7:12 AM
S&P500
Down
-0.4%
percent
2,423
(8.50)
Nasdaq Composite
Down
-1.2%
percent
6,135
(73.30)
30 Year Treasury
Up
1
Basis Points
2.86
Annual Yield
On Friday, Secretary of State Rex Tillerson called on Saudi Arabia and other countries to end their "blockade" of Qatar, after they accused the country of backing terrorist activities. But Tillerson also said the emir of Qatar must do more to fight extremism. Saudi Arabia, Bahrain, the United Arab Emirates and Egypt broke ties with Qatar early last week.
The Federal Reserve should consider raising its inflation target, according to a prominent group of economists including Nobel laureate Joseph Stiglitz. In a June 8 letter to Fed chairman Janet Yellen, the economists said the Fed should raise the target so that there is more room to avoid hitting the zero lower bound of the federal funds rates. The Fed kept interest rates at zero for seven years to try to jump start the economy. The letter said there is a no evidence that moderately higher inflation would harm the economy, and a tighter labor market would be helpful. They suggest the Fed establish a blue ribbon commission to make recommendations for the central bank.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
