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The KUIK Morning Market Report for Wednesday, February 21: |
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Markets are up. |
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Index |
Direction |
Change |
Units |
Index |
Time |
Change |
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Dow Jones Industrial Average |
Up |
77 |
points |
25,041 |
7:20 AM |
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S&P500 |
Up |
0.4% |
percent |
2,727 |
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Nasdaq Composite |
Up |
0.6% |
percent |
7,277 |
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30 Year Treasury |
Unchanged |
– |
Basis Points |
3.15 |
Annual Yield |
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An index that tracks U.S. manufacturers rose to a nearly 3 1/2-year high in February and a gauge for service companies hit a six-month peak, according to IHS Markit’s flash Purchasing Managers Index. Manufacturing rose to 55.9 from 55.5 and services climbed to 55.9 from 53.3. Numbers over 50 mean expansion, and results above 55 are exceptional. The one drawback is that the cost of raw and partly finished materials rose to the highest level since 2013, which might be a sign of rising inflation. "Business activity growth accelerated markedly in February, suggesting the economy is growing at its fastest pace for over two years," says Chris Williamson, chief business economist at IHS Markit. "Even faster growth is signaled for coming months." |
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The Treasury Department called for changes to correct what it described as “serious defects” around how and when orderly liquidation authority on banks would be used. As expected, it said the authority should be retained as a tool for the government if a huge financial firm were about to fail. It also recommended changes to the bankruptcy code to make it easier for a failure to be resolved in bankruptcy court, without a government take over. |
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Sign up for a Social Security and Retirement Analysis at brcapitalinc.com/kuik. Serving the West Side first, I am Bill Roller for 1360 KUIK. |
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www.marketwatch.com/story/us-businesses-grow-rapidly-at-start-of-2018-ihs-markit-finds-2018-02-21 |
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For today’s Morning Market Report click to listen-> |
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