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The Chicago PMI slipped 2.1 points to 65.7, MNI Indicators said Wednesday. That’s on a scale where any reading over 50 indicates improving conditions.
READ MOREThe Treasury Department on Wednesday said it plans to raise the size of upcoming bond and note auctions this quarter by $42 billion to meet the increased funding needs from the Federal Reserve’s shrinking of its balance sheet and the recently passed tax bill. The department also announced it will auction $66 billion in notes
READ MOREJanet Yellen could end her final meeting as Fed chair Wednesday with a more hawkish-sounding statement to reflect an improved economy and rising inflation expectations. Yellen, known as a dove during her tenure, started the Fed back on a rate-hiking path in 2015 after her predecessor took interest rates to zero during the financial crisis
READ MOREPrivate-sector employment was strong for the second straight month in January, as employers added 234,000 jobs, Automatic Data Processing Inc. reported Wednesday. Economists had expected an increase of 185,000 private-sector jobs, compared with December estimate of a gain of 250,000.
READ MOREConsumer confidence rebounded in the first month of the new year, climbing to 125.4 in January from a revised 123.1 at the end of 2017, the Conference Board said Tuesday. Economists surveyed by had forecast a 125.0 reading. Americans were a little less sure about the economy in early 2018, but they expect growth to
READ MOREThe S&P/Case-Shiller 20-city index rose a seasonally adjusted 0.7% in the three-month period ending in November compared to the same period ending in October, and was up 6.4% compared to a year before. The national index rose a seasonally adjusted 0.7% for the month, and 6.2% for the year.
READ MOREThe yield on the 10-year Treasury note rose above 2.7% on Monday, adding to a persistent climb in yields for U.S. government paper on expectations of increased interest rates, an upbeat economic outlook and anticipation of greater issuance of government bonds.
READ MOREConsumer spending climbed 0.4% in December, capping off the biggest increase in household buying since 2011. Economists had forecast a 0.5% increase. Americans were able to spend more last year partly because of rising incomes. They rose 0.4% in December and advanced 3.1% for the full year, the largest increase since 2015. Yet households drew
READ MOREFresh off a resounding confirmation by the U.S. Senate, Jerome Powell takes over as chairman of the Federal Reserve next week with the central bank facing big decisions about monetary policy. The Fed is not only in the process of gradually raising interest rates, it also has been slowly reducing its massive balance sheet in
READ MOREInterest rates and classic measures of inflation have been pinned down to historically muted levels in recent years. As both show signs of creeping higher, some market watchers see the combination as a potential headwind for stocks. Inflation and the 10-year Treasury yield rising together are of particular importance. The combination could be the “fly
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