| The KUIK Market Update for Tuesday, September 24: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Up | 15 | points | 15,417 | 8:00 AM | ||
| S&P500 | Up | 0.09% | percent | 1,703 | 1.52 | ||
| Nasdaq Composite | Up | 0.33% | percent | 3,778 | 12.60 | ||
| 30 Year Treasury | Down | (4) | Basis Points | 3.70 | Annual Yield | ||
| S&P reported U.S. home prices in July rose at the smallest monthly pace since March as fifteen cities out of the twenty tracked by the S&P/Case-Shiller Housing Index saw slower growth as higher mortgage rates are hitting the housing market. Home prices grew 12.4% annually in July, the fastest pace since 2006 but home prices in were about 21% below their 2006 peak. | |||||||
| Applied Materials agreed to acquire Japanes semiconductor equipment manufacturer Tokyo Electron for $9.3 billion in stock, creating a giant in the chip and display manufacturing-tools sector. Applied is paying a modest premium to Tokyo Electron’s market value of $8.8 billion and the combined firm will be worth $19.7 billion. Applied’s shareholders will own 68% of the combined company and both the CEO and CFO will come from Applied. | |||||||
| The confidence of Americans in the U.S. economy fell in September to the lowest level in four months on concerns about stagnant wages and the availability of jobs. The Conference Board reported the consumer-confidence index fell to 79.7 this month from a revised 81.8 in August. That matched expectations. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/home-price-growth-edging-down-case-shiller-says-2013-09-24 | |||||||
| http://www.marketwatch.com/story/applied-materials-to-acquire-tokyo-electron-2013-09-24 | |||||||
| http://www.marketwatch.com/story/us-consumers-less-confident-in-september-2013-09-24-101034822 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||