The KUIK Morning Market Report for Thursday, July 13:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
11
points
21,542
7:12 AM
S&P500
Up
0.2%
percent
2,447
3.94
Nasdaq Composite
Up
0.3%
percent
6,278
17.30
30 Year Treasury
Up
1
Basis Points
2.90
Annual Yield
The Labor Department reports new applications for unemployment benefits fell by by 3,000 to a seasonally adjusted 247,000 the week ended July 8. Continuing claims fell by 20,00 to 1,945,000 for the week before.
The Labor Department also reports wholesale inflation as shown by the producer-price index edged up 0.1% in June. Economists had expected no change. After rising steadily in 2016 and early 2017, inflation has tapered off. The Personal Consumption Expenditures index has slowed to an yearly rate of 1.4% from a five-year high of 2.1% earlier this year. That’s prompted some Fed officials to question whether further interest rate increases are merited in an environment of slow consumer prices and inflation. Fed Chairman Janet Yellen has argued the slowdown is temporary, but in testimony before Congress on Wednesday she appeared to give the central bank room to adjust policy if inflation continues to fall below its 2% target.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
