| The KUIK Market Update for Thursday, September 19: | |||||||
| Markets are flat after yesterday’s big up move. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (16) | points | 15,661 | 8:00 AM | ||
| S&P500 | Up | 0.04% | percent | 1,726 | 0.72 | ||
| Nasdaq Composite | Up | 0.13% | percent | 3,788 | 4.77 | ||
| 30 Year Treasury | Up | 2 | Basis Points | 3.78 | Annual Yield | ||
| Existing-home sales rose 1.7% in August to a seasonally adjusted annual rate of 5.48 million, the highest level in more than six years, as buyers rushed to lock in historically low mortgage rates according to the National Association of Realtors. Economists polled by MarketWatch expected 5.2 million. Mortgage rates started increasing in early May on speculation about the Federal Reserve tapering its massive asset-purchase program. Yesterday, Fed officials said they will not taper yet. NAR said the median price of a home was $212,100 in August, up 14.7% from 2012, the largest growth since October 2005. Inventories rose 0.4% to 2.25 million homes available for sale, representing a 4.9-month supply at current sales rates. All-cash deals remained high in August, and there were relatively few first-time buyers and distressed sales. | |||||||
| The Labor Department reported Initial jobless claims climbed by 15,000 to 309,000 in the week ended Sept. 14. A sharp drop two weeks ago sent claims below the 300,000 mark for the first time in seven years, but the decline appeared to be tied more to processing delays than a sudden improvement in a sluggish U.S. labor market. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/existing-home-sales-rise-17-in-august-2013-09-19?dist=lcountdown | |||||||
| http://www.marketwatch.com/story/us-jobless-claims-rise-15000-to-309000-2013-09-19 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||