The KUIK Morning Market Report for Friday, January 12:
Markets are up.
Index
Direction
Change
Units
Index
Time
Change
Dow Jones Industrial Average
Up
150
points
25,724
7:15 AM
S&P500
Up
0.3%
percent
2,776
(0.02)
Nasdaq Composite
Up
0.1%
percent
7,222
(8.63)
30 Year Treasury
Up
2
Basis Points
2.89
Annual Yield
The Commerce Department reports sales at retailers rose 0.4% in December for the fourth straight monthly gain. The increase was slightly below the MarketWatch forecast of 0.5%, but November and October were both revised higher. Excluding autos and gasoline, retail sales also rose 0.4% last month. They show the big divide between fast-growing internet retailers and old-fashioned department stores. Sales on the internet jumped 1.2%, while sales at department stores fell 1.1%. That was the biggest decline in a year and a half. Sales also fell at stores that sell appliances and electronics, clothing and sporting goods, and hobby items. Top stores joining internet sellers at the top of the heap were restaurants, home and garden stores, and home furnishings. Auto sales rose 0.2% and sales at gasoline stations were flat.
The Federal Reserve reports the consumer price index rose 0.1% in December. 80% of that increase was due to the highesr cost of housing but it matched expectations. If gas and food are staken out, the core rate of inflation rose a faster 0.3%, the highest reading in almost a year.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
