The KUIK Morning Market Report for Thursday, December 7:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
62
points
24,203
7:10 AM
S&P500
Up
0.0%
percent
2,630
0.40
Nasdaq Composite
Up
0.2%
percent
6,789
4.13
30 Year Treasury
Up
3
Basis Points
2.70
Annual Yield
The Labor Department reports initial claims for unemployment benefits fell by 2,000 to 236,000 ithe week ended December 2. Economists expected 240,000. Continuing claims fell by 52,000 to 1.91 million the week before.
Stock exchanges charge investors for their trades, then profit from selling the data about those transactions to banks, investment managers and high speed trading firms. Now those market participants want the Securities and Exchange Commission to force exchanges to reveal exactly how much they profit from this apparent conflict of interest. In a letter sent Wednesday, 24 firms including Citadel Securities and Vanguard asked the SEC to require exchanges to disclose information regarding fees charged for stock market data. The letter says exchanges have regularly increased market data prices because of the decline in profitability for their listing and order matching activities. The increased data fees are typically are borne by broker-dealers that pass them along directly or indirectly to both retail and institutional investors.
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Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
