Shares of companies in the defense industry are up today, after last night’s speech by President Trump in which he said he intended to step up the fight against extremists and Taliban forces in Afghanistan. The SPDR S&P Aerospace & Defense ETF is up 1%. Lockheed Martin is up 0.5% and Boeing is up 0.9%.
The U.S. dollar is higher against other major currencies this morning in thin trading conditions ahead of more insight on interest rates this week when the Kansas City Federal Reserve Bank hosts its annual Jackson Hole retreat. Remarks by European Central Bank President Mario Draghi on Friday will be watched for clues that bankās plan to begin winding down its asset-buying program. Fed Chairman Janet Yellen will also speak on Friday.
September crude oil is up 0.8% to $47.76 a barrel on the New York Merc on expectations that data will show U.S. supplies of crude oil fell for an eighth-consecutive week. The American Petroleum Institute will issue its weekly supply data late today, while the Energy Information Administrationās report will be released Wednesday morning.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
