| The KUIK Market Update for Wednesday, August 21: | |||||||
| Markets are mixed. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (39) | points | 14,964 | 8:02 AM | ||
| S&P500 | Down | -0.22% | percent | 1,649 | (3.67) | ||
| Nasdaq Composite | Up | 0.01% | percent | 3,614 | 0.23 | ||
| 30 Year Treasury | Up | 2 | Basis Points | 3.88 | Annual Yield | ||
| The Fed releases its minutes of the July 31st Federal Open Market Committee at 11:00 am Pacific time. The market will be looking for signs that the Fed will be cutting back on its $85 billion-per-month bond-buying program now know as the Septaper as well as its future rate guidance. | |||||||
| The Philadelphia Semiconductor Index dropped 0.4%, as shares of Analog Devices fell more than 2% after reporting a weaker-than-expected outlook. Shares of Intel also fell 0.8%. | |||||||
| The National Association of Realtors reports existing-home sales rose 6.5% to a seasonally adjusted annual rate of 5.39 million, the highest level since December 2009, when buyers rushed to make a tax-credit deadline. Economists polled by MarketWatch expected 5.21 million. NAR said July’s spike is due to buyers looking to purchase a home before mortgage rates rise further. Rates have increased more than one percentage point since early May, though they remain relatively low. NAR also said the median price of a home was $213,500 in July, up 13.7% from 2012. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://blogs.marketwatch.com/capitolreport/2013/08/20/spotlight-on-the-economy-housing-data-and-the-all-important-fed-minutes-on-the-docket/ | |||||||
| http://www.marketwatch.com/story/apple-microsoft-rise-chip-stocks-slip-2013-08-21 | |||||||
| http://www.marketwatch.com/story/existing-home-sales-rise-65-in-july-2013-08-21 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||