| The KUIK Morning Market Report for Tuesday, October 30: | |||||||
| Markets are closed a second day because of Hurricane Sandy on the East Coast, but here are the stories we’re following. | |||||||
| As Superstorm Sandy churned slowly inland, millions along the U.S. East Coast awoke this morning without power or mass transit. Huge swaths of New York City are dark and abandoned. At least 18 people were killed in seven states, mostly from falling trees.
The storm that made landfall in New Jersey on Monday evening with hurricane force cut power to at least 7.4 million people across the East and put the presidential campaign on hold just one week before Election Day. New York was among the hardest hit, with its financial heart closed for a second day and seawater cascading into the still-gaping construction pit at the World Trade Center. The storm caused the worst damage in the 108-year history of New York’s subway system, and there was no indication of when the largest U.S. transit system would be rolling again. |
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| Sandy won’t help home prices. The growth of U.S. home prices slowed down in August, but reached the highest level since September 2010, according to the S&P/Case-Shiller 20-city composite index. It posted a 0.9% increase in August, following a 1.6% gain in July. Prices are up 2% from the prior year. Monthly prices rose in all cities but Seattle, where prices were 0.1% lower. | |||||||
| Expectations that the damage wrought by Hurricane Sandy will encourage the U.S. Federal Reserve to maintain monetary stimulus robbed the dollar of safe haven support. The ICE dollar index , a measure of the U.S. unit against a basket of six major rivals, fell 0.3% to 79.975. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.foxnews.com/weather/2012/10/30/at-least-17-dead-millions-without-power-in-sandy-aftermath/ | |||||||
| http://www.marketwatch.com/dr/2012/10/30/case-shiller-shows-home-prices-rise-0-9/ | |||||||
| http://www.marketwatch.com/dr/2012/10/30/dollar-slips-as-traders-weigh-sandy-aftermath/ | |||||||
| For today’s Morning Market Report click to listen-> | https://beaconrwa.com/audio/Morning-Market-Report.mp3 | ||||||
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