The KUIK Market Update for Wednesday, December 27:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
31
points
24,779
8:05 AM
S&P500
Up
0.2%
percent
2,685
0.36
Nasdaq Composite
Up
0.3%
percent
6,936
(0.72)
30 Year Treasury
Down
(3)
Basis Points
2.78
Annual Yield
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 Chinese demand will remain strong. Political success by the Trump Administration here in the US, getting the the tax bill passed have raised expectations that the administration will also be able to get a bill passed that boosts infrastructure spending, feeding demand for industrial metals.
The Conference Board reports consumer confidence fell in December a month after hitting a 17-year high, but the level of optimism among Americans this year was the highest since 2000. The index slipped to 122.1 from a revised 128.6 in November. Economists expected 127.5. Americans were less confident in their outlook for jobs and business conditions. Future conditions fell to 99.1 from 111, but present conditions rose to its highest level since 2001 and only 15.2% of Americans said jobs were “hard to get,” a 16-year low.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
