| The KUIK Market Update for Friday, January 25: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 23 | points | 13,848 | 7:44 AM | ||
| S&P500 | Up | 0.17% | percent | 1,497 | 2.59 | points | |
| Nasdaq Composite | Up | 0.29% | percent | 3,139 | 9.07 | points | |
| 30 Year Treasury | Up | 7 | Basis Points | 3.11 | Annual Yield | ||
| Treasury prices dropped and yields are up on news that European banks will start repaying a larger-than-expected portion of the cheap, three-year loans provided by the European Central Bank. The ECB said the banks would repay €137.2 billion, or 30%, of the loans made in the December 2011 long-term refinancing operation It’s as an important sign of improvement in the European banking system. | |||||||
| The Commerce Department reports sales of new single-family homes fell in December, while longer-term trends showed a strengthening market. Sales of new single-family homes fell 7.3% to a seasonally adjusted annual rate of 369,000 in December. Economists expected 385,000. December’s decline, sales are 8.8% from the same period a year ago. | |||||||
| President Obama is expected today to name Denis McDonough as White House chief of staff, replacing Jacob Lew, who Obama has tapped to become the next Treasury Secretary. McDonough has been a key national security deputy at the White House for the past two years. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/treasurys-drop-as-banks-to-start-repaying-ecb-cash-2013-01-25 | |||||||
| http://www.marketwatch.com/story/new-home-sales-fall-in-december-2013-01-25?link=MW_Nav_NV | |||||||
| http://www.marketwatch.com/story/obama-to-pick-mcdonough-as-chief-of-staff-reports-2013-01-25?link=MW_Nav_NV | |||||||
| For today’s Morning Market Report click to listen-> | https://beaconrwa.com/audio/Market-Update-Report.mp3 | ||||||