The KUIK Closing Market Report for Wednesday, August 16:
Markets were flat.
Index
Direction
Change
Units
Index
Time
Change
Dow
Unchanged
points
7:32 PM
S&P500
Up
0.1%
percent
2,468
3.50
Nasdaq Composite
Up
0.2%
percent
6,345
12.10
30 Year Treasury
Down
(3)
basis points
2.81
Annual Yield
Most senior Fed officials wanted to wait until an "upcoming" meeting to unveil a long-awaited selloff of the central bank’s $4.5 trillion in bond holdings, hinting at an announcement in September, according to minutes of the Fed’s meeting in July. The Fed also engaged in a debate overlow inflation readings, with some saying the bank could ‘afford to be patient" before raising interest rates. The Fed in July reduced its 2017 forecast for inflation, because "inflation might remain below 2% for longer than they currently expected." The Fed had been on track to raise rates one more time this year, but now a majority of Wall Street investors believe the bank will hold off until early 2018.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
