| The KUIK Market Update for Wednesday, November 28: | |||||||
| Markets opened down this morning but have recovered somewhat. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (17) | points | 12,862 | 7:48 AM | ||
| S&P500 | Down | -0.4% | percent | 1,393 | (1.13) | points | |
| Nasdaq Composite | Down | -0.3% | percent | 2,958 | (4.50) | points | |
| 30 Year Treasury | Down | (3) | Basis Points | 2.77 | Annual Yield | ||
| The lack of new homes is hurting the stock market. The Commerce Department says sales of new homes dropped 0.3 percent to a 368,000 annual pace following a revised downward 369,000 rate in September. Economists expected 390,000. | |||||||
| Top executives from U.S. companies including Caterpillar and Goldman Sachs meet with President Obama today to talk about the nation’s fiscal troubles. | |||||||
| German Finance Minister Wolfgang Schaeuble said that Greece may need more help as Bild-Zeitung, Germany’s most-read newspaper slammed a rescue accord as a “never-ending story.” “The Greek patient is beyond help,” Bild said in a commentary, noting that the ever-rising costs were falling on German taxpayers. “One hardly needs to imagine the worst scenario: the patient dies, the paramedic goes bust.” | |||||||
| Costco is up 4.4 percent for the biggest gain in the S&P 500 to $100.74. The largest U.S. warehouse-club chain said it plans to pay shareholders a special dividend totaling about $3 billion. Payouts made this year are subject to a 15 percent federal tax. Next year’s rate may rise as high as 43.4 percent as part of a budget deal. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.bloomberg.com/news/2012-11-28/u-s-stock-index-futures-drop-before-home-sales-report.html | |||||||
| http://www.marketwatch.com/dr/2012/11/28/u-s-stocks-begin-lower-as-cliff-worries-weigh-2/ | |||||||
| http://www.bloomberg.com/news/2012-11-28/schaeuble-signals-greece-may-need-more-help-as-bild-slams-deal.html | |||||||
| http://www.bloomberg.com/news/2012-11-28/u-s-stock-index-futures-drop-before-home-sales-report.html | |||||||
| For today’s Market Update Report click to listen-> | https://beaconrwa.com/audio/Market-Update-Report.mp3 | ||||||
| Shortlink-> | |||||||