| The KUIK Market Update for Wednesday, April 24: | |||||||
| Markets are flat | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (7) | points | 14,711 | 7:55 AM | ||
| S&P500 | Up | 0.09% | percent | 1,580 | 1.49 | points | |
| Nasdaq Composite | Down | -0.14% | percent | 3,265 | (4.63) | points | |
| 30 Year Treasury | Up | 1 | Basis Points | 2.89 | Annual Yield | ||
| The Commerce Department reports orders for durable goods fell 5.7% last in March for the biggest drop since last August. Economists surveyed by MarketWatch expected only a 3.2% drop. Commercial aircraft had a 48% drop in new orders. Boeing had 39 orders for new aircraft in March, down from 179 in February. Orders for new autos and parts, a strong segment over the past few years, edged up 0.2%. Excluding transportation, orders fell a smaller 1.4% but the softness was widespread. Demand fell for primary metals, heavy machinery, electrical equipment and appliances. Only computers and communications equipment saw an increase. | |||||||
| Homeowners are defaulting on modified mortgages at an alarming rate according to a Treasury Department report. Permanent modifications made through the federal Home Affordable Modification Program, launched in 2009, were redefaulting at a rate of 46.1% as of March 31. HAMP’s permanent modifications from 2010 have redefault rates ranging from 29% to 38%. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/durable-goods-orders-sink-57-in-march-2013-04-24 | |||||||
| http://blogs.marketwatch.com/thetell/2013/04/24/modified-mortgages-show-alarming-default-trend/ | |||||||
| For today’s Market Update Report click to listen-> | |||||||