| The KUIK Market Update for Tuesday, July 23: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (1) | points | 15,548 | 8:19 AM | ||
| S&P500 | Down | -0.18% | percent | 1,693 | (2.98) | ||
| Nasdaq Composite | Down | -0.48% | percent | 3,584 | (16.00) | ||
| 30 Year Treasury | Up | 2 | Basis Points | 3.58 | Annual Yield | ||
| Manufacturers in the upper Southeast and mid-Atlantic took a big hit July, according to the Richmond Federal Reserve. The bank’s index of manufacturing conditions sank to -11 from 7 in June, as new orders and shipments both dropped sharply. The negative reading from the Richmond Fed, combined with other weak manufacturing reports, halted the rally in the stock market. The Richmond Fed’s new orders index dropped to -15 from 9 and shipments dropped 26 points to -15. The gauge for employment remained at zero for the second straight month | |||||||
| The Federal Housing Finance Agency says U.S. home prices in May rose 0.7% on a seasonally adjusted basis, or up 7.3% on a year-on-year basis. That puts the index 11.2% below its April 2007 peak, or back to the January 2005 level. | |||||||
| The National Association of Realtors said June home sales, on a seasonally adjusted basis, fell 1.2% to an annual rate of 5.08 million — the second-highest rate since November 2009 — from a downwardly revised 5.14 million. Economists expected 5.28 million. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/richmond-fed-index-plunges-us-stocks-take-hit-2013-07-23 | |||||||
| http://blogs.marketwatch.com/capitolreport/2013/07/23/for-home-prices-its-back-to-2005-according-to-fhfa-data/ | |||||||
| http://www.marketwatch.com/story/home-sales-see-slight-drop-in-june-2013-07-22 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||