The KUIK Morning Market Report for Wednesday, October 25:
Markets are down.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(18)
points
23,424
7:13 AM
S&P500
Down
-0.3%
percent
2,563
(6.60)
Nasdaq Composite
Down
-0.2%
percent
6,588
(10.92)
30 Year Treasury
Up
4
Basis Points
2.96
Annual Yield
Bloomberg reports PresidentTrump asked Republican senators for a show of hands on who they’d like to see as the next Fed chairman and Stanford economist John Taylor won the straw poll according to Senaor Tim Scott, Republican from South Carolina. Scott told The Wall Street Journal that the poll was only two candidates, Taylor and Federal Reserve Governor Jerome Powell. Taylor is a leading academic who has forged close ties with congressional Republicans since the financial crisis, often testifying before the House Financial Services Committee about interest-rate policy.
The Commerce Department reports orders for durable goods rose 2.2% in September, beating the 0.7% gain expected by economists. Excluding transportation orders increased 0.7%. Business investment in the form of core capital-goods orders gained 1.3% for the third month in a row. These orders have climbed 7.8% in the past year, the fastest pace since early in 2012.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
