The KUIK Morning Market Report for Thursday, September 14:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
16
points
22,175
7:00 AM
S&P500
Down
-0.2%
percent
2,495
(3.72)
Nasdaq Composite
Down
-0.4%
percent
6,437
(22.72)
30 Year Treasury
Down
(1)
Basis Points
2.79
Annual Yield
The Labor Department reports initial jobless claims for the week ended September 10 fell to 284,000 from 298,000. But the effects of Hurricane Irma could keep new claims at elevated levels over the next few weeks. Continuing claims fell by 7,000 to 1.94 million in the first week of September.
The consumer price index rose 0.4%in August and the core rate increased 0.2% according to the Commerce Department. On a yearly basis, headline inflation is up 1.9% and the core rate is steady at 1.7%. That builds the case for a December rate hike. The increase was mostly due to higher housing costs and gas, but the cost of medical care grew at the slowest rate since 1965, Adjusted for inflation, hourly wages for American workers fell 0.3% in August and in the past year real hourly pay has risen only 0.6%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
