Morning Market Report 3/17/2014

March 17, 2014
The KUIK Morning Market Report for Monday, March 17:
Markets are up.
Index Direction Change Units Last Time Change
Dow Up                    177 points           16,242 6:54 AM
S&P500 Up 0.96% percent             1,859            17.68
Nasdaq Composite Up 1.06% percent             4,291            45.19
30 Year Treasury Up                       2 Basis Points               3.61 Annual Yield
The Federal Reserve reports Industrial production climbed 0.6% in February,  the fastest monthly growth since August as output recovered after the harsh weather.  Economists expected only 0.2%.   The gain in February came as manufacturing output grew 0.8% and as mining output grew 0.3%, while utilities output fell 0.2% after a 3.8% surge in January. Capacity utilization rose to 78.8% from 78.5%.
Manufacturing activity in the New York region improved in March, according to the Federal Reserve Bank of New York. The Empire State general business conditions index rose to 5.6 in March from 4.5 in February, in line with the expectations. New orders were positive and shipments rose slightly. Inventories rose to 7.1 from negative 5 in February. The number of employees fell in March but remained in positive territory while the average workweek rose slightly.
The Federal Reserve’s interest-rate-setting committee gathers for two days of talks on Tuesday and Wednesday.  It’s the first meeting to be led by Chairman Janet Yellen. The Fed will release a policy statement and updated economic forecasts at 11 am Pacific  on Wednesday, and Yellen will hold a press conference at the end of the deliberations at 11:30. 
Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.
http://www.marketwatch.com/story/industrial-production-climbs-06-in-february-2014-03-17
http://www.marketwatch.com/story/empire-state-index-improves-slightly-in-march-2014-03-17
http://www.marketwatch.com/story/its-pledge-week-at-the-fed-2014-03-17
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