The KUIK Market Update for Wednesday, December 13:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
74
points
24,579
8:11 AM
S&P500
Up
0.2%
percent
2,669
2.55
Nasdaq Composite
Up
0.4%
percent
6,886
(0.72)
30 Year Treasury
Down
(2)
Basis Points
2.76
Annual Yield
The Labor Department reports the consumer price index climbed 0.4% in November. That matched expectations and means the Federal Reserve will probably raise interest rates today. Three-quarters of that gain reflected higher gas prices. If gas and food are taken out, the core rate of inflation rose a weaker than expected 0.1%. The annnual rate of inflation as measured by the CPI rose to 2.2% from 2%. The core rate fell a tick to 1.7%.
Democrat Doug Jones’s victory in the Alabama Senate election over Republican Roy Moore last night does not change prospects for the Republican tax bill, says Brian Gardner of Keefe, Bruyette & Woods in a research note. "We expect the tax bill will probably be passed by Congress before Christmas. " Jones won’t be sworn in until the Senate get certification from Alabama between Dec. 26 and Jan. 3. He said the election "should not impact the tax bill unless some other factor(s) derail the tax bill and push the issue into 2018."
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
