The KUIK Morning Market Report for Wednesday, December 27:
Markets are mixed.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Down
(5)
points
24,741
7:12 AM
S&P500
Up
0.1%
percent
2,683
0.36
Nasdaq Composite
Up
0.2%
percent
6,948
(0.72)
30 Year Treasury
Down
(2)
Basis Points
2.79
Annual Yield
Apple still gets most of the smartphone industry profits, though its share fell in the third quarter, according to Counterpoint Research. In a research note they wrote Apple had 60% of global smartphone-industry profits in the third quarter, down from 86% a year ago. Apple’s lost share was due mainly a growing portion of older iPhone models sold during the period. Cutting into Apple’s share was Samsung which has a stronger product line than a year agp. The Galaxy Note 8 line helped Samsung capture 26% of industry profits. In 2017, Samsung didn’t get any profit share after recalling its Galaxy Note 7. Chinese handset makers Huawei Technologies, Oppo Electronics, and Vivo rounded out the top five, each with less than 5%. Apple shares are off 0.4% this morning, but the stock is up 47% this year.
Spot copper prices hit 3 1/2-year highs and futures, are down slightly from their 4-year highs hit yesterday. Data showed a jump in imports to China, a top consumer of the metal, bolstering the view that Beijing demand will remain strong. In addition to Chinese demand, political success with changes to the U.S. tax code have raised expectations that the Trumps administration will be able to get a bill past that boosts infrastructure spending, feeding demand for industrial metals.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
