The KUIK Morning Market Report for Wednesday, January 3:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
51
points
24,875
7:19 AM
S&P500
Up
0.4%
percent
2,705
(0.02)
Nasdaq Composite
Up
0.5%
percent
7,041
(8.63)
30 Year Treasury
Down
(2)
Basis Points
2.79
Annual Yield
The Institute for Supply Management’s manufacturing survey hit 59.7 in December. Economists expect3ed it to stay at 58.2, same as November. Readings above 50 indicate expansion.
The Commerce Department reports construction spending rose 0.8% in November, economists expected only a 0.7% increase after the strong 1.4% in October. The index of construction spending includes the cost of labor and materials, architectural and engineering work, overhead costs, interest and taxes paid during construction, and contractor’s profits.
On Tuesday, the Semiconductor Industry Association reported that sales of chips in November increased 21.5% to $37.7 billion. While sales rose the fastest in the Americas, with a 40.2% increase to $8.77 billion, the largest market was China, with $11.9 billion in sales, a 18.5% increase from November 2016.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
