| The KUIK Market Update for Tuesday, June 18: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 108 | points | 15,288 | 7:58 AM | ||
| S&P500 | Up | 0.54% | percent | 1,648 | 8.80 | points | |
| Nasdaq Composite | Up | 0.72% | percent | 3,476 | 35.81 | points | |
| 30 Year Treasury | Up | 1 | Basis Points | 3.36 | Annual Yield | ||
| The Commerce Department reports housing starts rose 6.8% in May to a seasonally adjusted annual rate of 914,000. This is after the big drop in new apartments that pushed down starts in April. Starts for single-family homes increased 0.3% in May to a seasonally adjusted annual rate of 599,000, while starts for structures with five or more units rebounded 21.6% to 315,000. | |||||||
| The consumer-price index rose by a seasonally adjusted 0.1% last month after falling 0.4% in April, according to the Labor Department. Economists polled by MarketWatch expected a 0.2% increase. The energy index rose 0.4%, due to higher prices for electricity and natural gas. The gasoline index was flat on a seasonally adjusted basis even though the cost of fueling up at the pump increased last month. The prices increases in May will probably show up in the June report. | |||||||
| Iran’s new president looks like good news not only for the country’s reformers, but for people looking for cheaper oil prices too. After the surprise outcome of the presidential election last week, expectations are high that moderate cleric Hassan Rohani will ease tensions between the Islamic nation and the West, potentially ending the strict sanctions that limit the country’s oil exports. Analysts at Citigroup say the unexpected election result lowers the risk temperature in the region, and is likely to put downward pressure on oil prices in the near term. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/monthly-housing-starts-rebound-in-may-2013-06-18 | |||||||
| http://www.marketwatch.com/story/us-consumer-prices-barely-rise-in-may-2013-06-18 | |||||||
| http://blogs.marketwatch.com/thetell/2013/06/18/oil-bears-win-in-iranian-election-citigroup/ | |||||||
| For today’s Market Update Report click to listen-> | |||||||