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The KUIK Market Update for Monday, February 5: |
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Markets are mixed. |
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Index |
Direction |
Change |
Units |
Index |
Time |
Change |
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Dow Jones Industrial Average |
Down |
(51) |
points |
25,470 |
8:12 AM |
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S&P500 |
Down |
-0.1% |
percent |
2,761 |
(1.99) |
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Nasdaq Composite |
Up |
0.2% |
percent |
7,257 |
(2.34) |
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30 Year Treasury |
Up |
2 |
Basis Points |
3.12 |
Annual Yield |
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Wells Fargo says the impact from sanctions put on the bank after a wave of customer account scandals could reduce its profit this year by as much as $400 million. Wells Fargo is replacing four board members and won’t be able to grow beyond the $1.95 trillion in assets it held at the end of 2017, after agreeing to a consent order with the Federal Reserve on Friday after markets had closed. The bank opened millions of customer accounts without authorization over a period of years. |
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The Institute for Supply Management reports its survey of service companies such as hotels and banks hit a 13-year high in January of 59.9. Employment activity set a record. While new orders hit its highest level since 2011. Fifteen of the 17 industries tracked said business expanded. |
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If you would like a Social Security and Retirement Analysis sign up at brcapitalinc.com/kuik. Serving the West Side first, I am Bill Roller for 1360 KUIK. |
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www.marketwatch.com/story/jerome-powell-sworn-in-as-fed-chairman-2018-02-05-9103502?mod=bnbh |
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For today’s Market Update Report click to listen-> |
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