| The KUIK Morning Market Report for Tuesday, July 23: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 49 | points | 15,595 | 7:48 AM | ||
| S&P500 | Down | -0.17% | percent | 1,693 | (2.94) | ||
| Nasdaq Composite | Up | 0.12% | percent | 3,605 | 4.45 | ||
| 30 Year Treasury | Up | 3 | Basis Points | 3.59 | Annual Yield | ||
| 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. | |||||||
| President Obama kicks off the fall budget battle with a speech tomorrow in Illinois about his economic agenda. Between Labor Day and Christmas, Congress has to find a way to keep the government running in the new fiscal year that begins Oct. 1 and also raise the federal debt ceiling | |||||||
| Treasury prices fell today ahead of $99 billion in sales of government debt this week, paring back price gains over the past few sessions. Prices had been rising going into this week as the Federal Reserve signalled a commitment to continuing its bond-purchase program until the economy is strong enough to scale back. But investor demand dissipated as yields sank. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| 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 | |||||||
| http://blogs.marketwatch.com/capitolreport/2013/07/22/obama-speech-this-week-to-be-opening-shot-in-fiscal-battle/ | |||||||
| http://www.marketwatch.com/story/treasurys-fall-ahead-of-auction-as-demand-lags-2013-07-23?dist=markets | |||||||
| For today’s Morning Market Report click to listen-> | |||||||