| The KUIK Morning Market Report for Wednesday, July 17: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 1 | points | 15,453 | 7:05 AM | ||
| S&P500 | Up | 0.27% | percent | 1,681 | 4.56 | ||
| Nasdaq Composite | Up | 0.16% | percent | 3,604 | 5.63 | ||
| 30 Year Treasury | Down | (3) | Basis Points | 3.55 | Annual Yield | ||
| Housing starts fell 9.9% in June to a seasonally adjusted annual rate of 836,000, the lowest level since August 2012. Starts for apartments fell 27%, while starts for single-family homes dropped 0.8%. | |||||||
| Federal Reserve Chairman Ben Bernanke in testimony to Congres said that the central bank’s timetable to taper asset purchases, the QE3, is not set in stone. The Fed chairman was fairly dovish, saying the economy remains vulnerable and a debt ceiling dispute could derail the recovery. | |||||||
| Treasury Secretary Jack Lew is a fan of Ben Bernanke. Lew told the Delivering Alpha hedge-fund conference that the Obama administration remains committed to putting an end to the era of “too-big-to-fail” banks and vowed to accelerate efforts to put Dodd-Frank financial regulations into place. Lew also said Congress must act to extend the debt limit by the end of the year and described previous debt-limit battles as self-inflicted wounds. He also has praise for Federal Reserve Chairman Ben Bernanke, saying his efforts have helped save the U.S. economy. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/home-construction-lowest-in-almost-a-year-2013-07-17 | |||||||
| http://www.marketwatch.com/story/bernanke-says-tapering-not-on-preset-path-2013-07-17 | |||||||
| http://www.marketwatch.com/economy-politics?link=MW_Nav_EP | |||||||
| For today’s Morning Market Report click to listen-> | |||||||