The KUIK Morning Market Report for Friday, December 22:
Markets are flat.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(2)
points
24,780
7:11 AM
S&P500
Unchanged
0.0%
percent
2,685
0.36
Nasdaq Composite
Down
-0.1%
percent
6,956
(0.72)
30 Year Treasury
Up
1
Basis Points
2.84
Annual Yield
The Commerce Department reports orders for durable goods rose 1.3% in November after a 0.4% drop in October. That was the third rise in durable-goods orders in the past four months, but economists expected a 2% gain. The increase was due mainly to order for commercial aircraft. Excluding transportation, orders fell 0.1. Orders for core capital-goods which represent business investment fell 0.1%, the first drop after four straight gains.
Consumer spending rose November, up a seasonally adjusted 0.6%, while personal incomes climbed just 0.3%, according to the Commerce Department. Economists expected a 0.5% increase in spending and a 0.4% gain in incomes. The saving rate fell to a decade-low of 2.9% while inflation as measured by the Personal Consumption Expenditures index edged up 0.2%, and it’s up 1.8% annually, up from 1.6% in October.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
