The KUIK Morning Market Report for Monday, October 16:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
59
points
22,932
7:11 AM
S&P500
Up
0.2%
percent
2,558
4.49
Nasdaq Composite
Up
0.3%
percent
6,627
21.41
30 Year Treasury
Up
2
Basis Points
2.83
Annual Yield
The New York Fed reports that its Empire State manufacturing index climbed to a three-year high of 30.2 in October from 24.4 in September, Economists expected 20. Any reading over zero indicates improving conditions.
Fed Chairman Janet Yellen speaking at the G-30 conference in Washington on Sunday, kept the door open to another increase in short-term interest rates this year, but sounded a note of caution on still weak inflation in the U.S. and abroad. She said the âongoing strength of the economy will warrant gradual increasesâ in short-term interest rates, although she didnât say when the next rate hike would come.
Open the bank account, Hal. Artificial intelligence will unlock new opportunities for jobs and economic activity, but will pose the same thorny issues around displaced workers that trade does until better institutions are created, according to banking conference on Saturday. The Institute of International Finance heard from experts including MIT professor David Autor and Susan Lund, a partner at the McKinsey Global Institute. Autor said the mistakes like those that were made in trade policy–like letting China into the World Trade Organization, which decimated manufacturing jobs — shouldnât be repeated.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
