| The KUIK Market Update for Monday, January 28: | |||||||
| Markets are down slightly. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (14) | points | 13,882 | 8:15 AM | ||
| S&P500 | Down | -0.2% | percent | 1,500 | (2.87) | points | |
| Nasdaq Composite | Up | 0.2% | percent | 3,155 | 4.88 | points | |
| 30 Year Treasury | Up | 3 | Basis Points | 3.17 | Annual Yield | ||
| The Commerce Department reports that orders for durable goods rose 4.6 percent in December after rising 0.8 percent in November. Excluding transportation equipment, orders rose 1.3 percent. Economists expected a 2 percent gain in overall orders. | |||||||
| Pending home sales fell 4.3% in December, with low inventory cutting results, according to data released by the National Association of Realtors. The pending-home-sales index declined to 101.7 in December from 106.3 in November. A reading of 100 equals the average level of contract activity in 2001, when NAR started tracking. | |||||||
| Bloomberg reports banks may overtake industrial companies as the safest borrowers in the $5.1 trillion corporate bond market for the first time since the start of the inancial crisis. Investors demand an extra 154 basis points in yield over benchmarks to buy bonds of JPMorgan Chase, Wells Fargo and other lenders, compared with 138 basis points for companies from Alcoa to Ford, according to the Bank of America Merrill Lynch index. At only 16 basis points, the gap has shrunk from a peak of 365 in 2009 and may invert as soon as this year based on the current pace of tightening. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.bloomberg.com/news/2013-01-28/u-s-stock-futures-little-changed-before-durable-goods.html | |||||||
| http://www.marketwatch.com/story/pending-home-sales-fall-in-december-2013-01-28?link=MW_home_latest_news | |||||||
| http://www.bloomberg.com/news/2013-01-28/banks-debt-poised-to-capture-pre-crisis-eminence-credit-markets.html | |||||||
| For today’s Morning Market Report click to listen-> | https://beaconrwa.com/audio/Market-Update-Report.mp3 | ||||||