| The KUIK Market Update for Wednesday, May 22: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 63 | points | 15,448 | 8:06 AM | ||
| S&P500 | Up | 0.36% | percent | 1,675 | 6.02 | points | |
| Nasdaq Composite | Up | 0.23% | percent | 3,510 | 8.16 | points | |
| 30 Year Treasury | Up | 3 | Basis Points | 3.18 | Annual Yield | ||
| Existing-home sales rose 0.6% in April to a seasonally adjusted annual rate of 4.97 million, according to the National Association of Realtors and they are 9.7% from April of 2012. | |||||||
| Fed Chairman Ben Bernanke is testifying to the Joint Economic Committee of Congress. He said “A premature tightening of monetary policy could lead interest rates to rise temporarily but would also carry a substantial risk of slowing or ending the economic recovery and causing inflation to fall further,” It doesn’t look like the bond purchase program will end anytime soon | |||||||
| Oil futures lost ground after the U.S. Energy Information Administration reported a modest fall in last week’s crude supplies along with an unexpected rise in gasoline inventories. Crude supplies fell 300,000 barrels for the week ended May 17. Analysts expected a 1.2 million-barrel decline. Gasoline supplies rose by 3 million barrels, while analysts expected a 200,000 drop. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/existing-home-sales-highest-since-2009-2013-05-22 | |||||||
| http://www.marketwatch.com/story/bernanke-premature-tightening-could-end-growth-2013-05-22 | |||||||
| http://www.marketwatch.com/story/crude-supplies-fall-gasoline-stockpiles-rise-eia-2013-05-22?link=MW_Nav_NV | |||||||
| For today’s Market Update Report click to listen-> | |||||||